USS Investment Management Ltd Has $3.57 Million Holdings in CDW Corporation $CDW

Key Points

• USS Investment Management Ltd reduced its stock holdings in CDW Corporation by 24.7% during the first quarter, selling 7,300 shares and ending with 22,294 shares valued at approximately $3.57 million.
• Several large investors, including Deutsche Bank AG and Janus Henderson Group PLC, have significantly increased their stakes in CDW during the previous quarter, indicating strong institutional interest in the company.
• CDW has declared a quarterly dividend of $0.625, with a yield of 1.5%, to be paid on September 10th, highlighting its commitment to return value to shareholders.

USS Investment Management Ltd decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,294 shares of the information technology services provider's stock after selling 7,300 shares during the quarter. USS Investment Management Ltd's holdings in CDW were worth $3,572,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CDW. Price T Rowe Associates Inc. MD grew its position in CDW by 444.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock valued at $261,564,000 after acquiring an additional 1,332,454 shares in the last quarter. Voloridge Investment Management LLC bought a new position in CDW during the fourth quarter worth $105,705,000. Manning & Napier Advisors LLC bought a new position in CDW during the first quarter worth $74,908,000. Contour Asset Management LLC bought a new position in CDW during the first quarter worth $64,505,000. Finally, Massachusetts Financial Services Co. MA increased its position in CDW by 15.7% in 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 buying an additional 378,841 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

NASDAQ:CDW traded down $1.44 during mid-day trading on Friday, reaching $164.29. 1,120,717 shares of the stock were exchanged, compared to its average volume of 1,134,673. The business has a fifty day moving average price of $170.85 and a 200 day moving average price of $170.02. The firm has a market capitalization of $21.53 billion, a PE ratio of 20.41, a PEG ratio of 2.73 and a beta of 0.98. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.CDW's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. Research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a $0.625 dividend. The ex-dividend date was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

Analyst Ratings Changes

CDW has been the topic of several analyst reports. Barclays dropped their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased 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. UBS Group dropped their target price 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, Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and an average target price 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.