UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $152.97 Million Stock Holdings in CDW Corporation $CDW

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 position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 954,482 shares of the information technology services provider's stock after buying an additional 17,895 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.72% of CDW worth $152,965,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

CDW Stock Down 0.9%

Shares of CDW stock opened at $164.29 on Friday. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $230.86. The business has a 50-day moving average of $170.85 and a two-hundred day moving average of $170.15. The company has a market capitalization of $21.53 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.75 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

CDW (NASDAQ:CDW - Get Free Report) last announced 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. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

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

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.

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