3,302 Shares in CDW Corporation $CDW Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake in CDW Corporation, purchasing 3,302 shares valued at approximately $533,000 in the first quarter.
• CDW reported a quarterly earnings per share (EPS) of $2.60, exceeding estimates by $0.11, with revenues reaching $5.98 billion for the quarter, a 10.2% increase year-over-year.
• The company has declared a quarterly dividend of $0.625, which translates to an annualized yield of 1.5% and reflects a payout ratio of 31.06%.

United Services Automobile Association bought a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,302 shares of the information technology services provider's stock, valued at approximately $533,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of 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 worth $2,683,767,000 after buying an additional 72,550 shares during the last quarter. Select Equity Group L.P. boosted its stake in CDW by 5.6% in the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider's stock valued at $592,311,000 after acquiring an additional 195,511 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of CDW by 15.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock worth $447,596,000 after purchasing an additional 378,841 shares during the last quarter. Invesco Ltd. grew its holdings in shares of CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock worth $396,157,000 after purchasing an additional 45,217 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of CDW by 444.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after purchasing an additional 1,332,454 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CDW Price Performance

Shares of CDW stock traded down $1.44 during trading on Friday, hitting $164.29. 1,120,717 shares of the company were exchanged, compared to its average volume of 1,170,116. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The firm has a 50 day moving average price of $170.85 and a 200 day moving average price of $170.08. The stock has a market capitalization of $21.53 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.75 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results 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. 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 quarter last year, the business posted $2.50 earnings per share. CDW's revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued 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 was Monday, August 25th. CDW's dividend payout ratio is presently 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.