United Services Automobile Association Takes $533,000 Position in CDW Corporation $CDW

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 purchased a new stake in CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,302 shares of the information technology services provider's stock, valued at approximately $533,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its position in CDW by 9.5% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,961 shares of the information technology services provider's stock worth $475,000 after buying an additional 257 shares in the last quarter. Caxton Associates LLP acquired a new stake in CDW during the first quarter worth about $951,000. Sciencast Management LP acquired a new stake in CDW during the first quarter worth about $446,000. Jones Financial Companies Lllp grew its position in CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider's stock worth $785,000 after buying an additional 3,719 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in CDW by 4.2% during the first quarter. UniSuper Management Pty Ltd now owns 32,671 shares of the information technology services provider's stock worth $5,236,000 after buying an additional 1,322 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Up 0.0%

NASDAQ CDW traded up $0.03 during mid-day trading on Tuesday, reaching $163.16. 228,281 shares of the stock were exchanged, compared to its average volume of 1,314,144. CDW Corporation has a one year low of $137.31 and a one year high of $230.86. The stock has a 50 day simple moving average of $170.57 and a 200-day simple moving average of $169.91. The stock has a market cap of $21.38 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.73 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 posted its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion during 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 period last year, the company posted $2.50 earnings per share. On average, analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's dividend payout ratio (DPR) is presently 31.06%.

Analyst Upgrades and Downgrades

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

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.