CDW Corporation $CDW Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in CDW Corporation to $152.97 million with a total of 954,482 shares owned, marking a 1.9% increase during the first quarter.
• CDW's stock has seen price target adjustments from various analysts, with Barclays lowering its target to $176.00, while JPMorgan and Citigroup raised their targets to $205.00 and $200.00, respectively.
• The company recently reported earnings per share (EPS) of $2.60 for the quarter, exceeding estimates, with revenues increasing by 10.2% year-over-year to $5.98 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 954,482 shares of the information technology services provider's stock after acquiring an additional 17,895 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.72% of CDW worth $152,965,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock valued at $33,255,000 after acquiring an additional 35,737 shares during the period. Unison Asset Management LLC grew its stake in CDW by 9.4% in the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after acquiring an additional 3,657 shares during the period. Allspring Global Investments Holdings LLC grew its stake in CDW by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after acquiring an additional 94 shares during the period. Sequoia Financial Advisors LLC grew its stake in CDW by 8.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after acquiring an additional 1,604 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new stake in CDW during the 1st quarter worth $212,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CDW shares. UBS Group dropped their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays dropped their target price on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Finally, Citigroup upped their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Stock Down 2.0%

Shares of CDW traded down $3.31 during mid-day trading on Thursday, hitting $163.99. 813,500 shares of the company's stock were exchanged, compared to its average volume of 1,317,574. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.76 and a beta of 0.98. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The stock's 50-day moving average is $170.01 and its 200-day moving average is $169.87.

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

CDW Announces Dividend

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

CDW 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.