Todd Asset Management LLC Cuts Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Todd Asset Management LLC reduced its stake in CDW Corporation by 29.9%, selling 36,831 shares in the first quarter, and now owns 86,484 shares, valued at approximately $13.86 million.
• Analysts have mixed opinions on CDW Corporation, with Citigroup and JPMorgan raising their price targets to $200 and $205, respectively, while Barclays and UBS lowered theirs to $176 and $200.
• CDW recently announced a quarterly dividend of $0.625 per share, with an upcoming ex-dividend date of August 25th, resulting in an annualized yield of 1.6%.

Todd Asset Management LLC decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,484 shares of the information technology services provider's stock after selling 36,831 shares during the quarter. Todd Asset Management LLC owned 0.07% of CDW worth $13,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in CDW by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after acquiring an additional 72,550 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after buying an additional 378,841 shares in the last quarter. Invesco Ltd. increased its position in shares of CDW by 1.9% in the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock valued at $396,157,000 after buying an additional 45,217 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in CDW by 906.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after purchasing an additional 1,823,788 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in CDW by 10.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock valued at $282,701,000 after buying an additional 157,747 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Down 1.4%

Shares of NASDAQ:CDW traded down $2.33 during trading on Friday, hitting $163.76. The company's stock had a trading volume of 1,365,462 shares, compared to its average volume of 1,330,137. The company has a market capitalization of $21.46 billion, a PE ratio of 20.34, a PEG ratio of 2.81 and a beta of 0.95. The stock's 50-day moving average price is $175.19 and its two-hundred day moving average price is $174.10. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, sell-side analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's dividend payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Barclays dropped their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. UBS Group lowered their price target on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Citigroup boosted their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $202.00.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.