UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in CDW Corporation $CDW

Key Points

• UBS Asset Management increased its CDW stake by 3.0% in the second quarter, owning 1.35 million shares worth approximately $189.7 million. Institutional investors collectively hold 93.15% of CDW’s outstanding stock.
• CDW reported quarterly revenue of $6.57 billion, up 10% year over year and above estimates, while adjusted earnings of $2.91 per share exceeded consensus by $0.11.
• CDW declared a quarterly dividend of $0.63 per share, equating to an annualized $2.52 dividend and a 1.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $147.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,348,786 shares of the information technology services provider's stock after acquiring an additional 39,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.08% of CDW worth $189,693,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDW. New Mexico Educational Retirement Board grew its position in CDW by 6.6% during the 2nd quarter. New Mexico Educational Retirement Board now owns 6,450 shares of the information technology services provider's stock worth $907,000 after acquiring an additional 400 shares during the last quarter. Mufg Securities Americas Inc. increased its stake in CDW by 6.8% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,848 shares of the information technology services provider's stock worth $541,000 after purchasing an additional 245 shares during the period. Nissay Asset Management Corp Japan lifted its position in CDW by 1.6% in the second quarter. Nissay Asset Management Corp Japan now owns 17,774 shares of the information technology services provider's stock valued at $2,500,000 after purchasing an additional 272 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of CDW by 0.5% during the second quarter. Hsbc Holdings PLC now owns 782,147 shares of the information technology services provider's stock valued at $110,406,000 after purchasing an additional 3,517 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of CDW by 11.8% during the second quarter. Wellington Management Group LLP now owns 492,184 shares of the information technology services provider's stock valued at $69,221,000 after purchasing an additional 51,923 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider directly owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.82% of the company's stock.

CDW Price Performance

Shares of CDW stock opened at $151.58 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55. The firm has a market cap of $18.95 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.94 and a beta of 0.96. The business's 50 day moving average price is $138.29 and its 200-day moving average price is $128.62.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.7%. CDW's dividend payout ratio is 30.29%.

Analysts Set New Price Targets

Several brokerages recently commented on CDW. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 target price on the stock in a research note on Wednesday, May 27th. UBS Group dropped their price target on shares of CDW from $162.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Royal Bank Of Canada upgraded shares of CDW to an "outperform" rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 price objective on shares of CDW in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

CDW Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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