Trexquant Investment LP Sells 24,195 Shares of CDW Corporation $CDW

Key Points

• Trexquant Investment LP significantly reduced its stake in CDW Corporation by 61.3% in the first quarter, now holding only 15,292 shares worth approximately $2.45 million.
• CDW reported a quarterly earnings per share (EPS) of $2.60, exceeding the consensus estimate of $2.49, with revenue up 10.2% year-over-year at $5.98 billion.
• The company recently announced a quarterly dividend of $0.625, translating to an annualized yield of 1.5%, with the dividend payout ratio currently at 31.06%.

Trexquant Investment LP trimmed its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 61.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,292 shares of the information technology services provider's stock after selling 24,195 shares during the period. Trexquant Investment LP's holdings in CDW were worth $2,451,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. GW&K Investment Management LLC increased its holdings in CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of CDW during the 4th quarter valued at about $30,000. Bayforest Capital Ltd bought a new position in shares of CDW during the first quarter valued at approximately $31,000. Pandora Wealth Inc. purchased a new position in shares of CDW in the first quarter worth $32,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of CDW in the first quarter valued at about $34,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

CDW has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group lowered their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Citigroup lifted their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays cut their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, CDW has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Stock Down 1.5%

Shares of NASDAQ:CDW traded down $2.52 on Monday, reaching $167.22. The company had a trading volume of 658,167 shares, compared to its average volume of 1,312,806. The firm's 50 day simple moving average is $172.24 and its 200-day simple moving average is $170.56. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $21.92 billion, a PE ratio of 20.76, a PEG ratio of 2.82 and a beta of 0.98.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be issued a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

About CDW

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.