Vanguard Group Inc. Boosts Stock Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Vanguard Group Inc. has increased its holdings in CDW Corporation by 0.4%, owning approximately 12.71% of the company with a total value of $2.68 billion.
• CDW Corporation reported earnings of $2.60 per share, exceeding analysts' expectations, and experienced a year-over-year revenue increase of 10.2% to $5.98 billion.
• Barclays and Citigroup have adjusted their price targets for CDW shares, with Citigroup raising its target from $180 to $200, while Barclays lowered its target from $205 to $176.

Vanguard Group Inc. raised its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,746,334 shares of the information technology services provider's stock after buying an additional 72,550 shares during the period. Vanguard Group Inc. owned about 12.71% of CDW worth $2,683,767,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in shares of CDW during the first quarter worth about $3,210,000. iA Global Asset Management Inc. boosted its holdings in shares of CDW by 1.5% during the first quarter. iA Global Asset Management Inc. now owns 15,252 shares of the information technology services provider's stock worth $2,444,000 after purchasing an additional 228 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of CDW by 7.3% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,235 shares of the information technology services provider's stock worth $198,000 after purchasing an additional 84 shares during the period. ING Groep NV boosted its holdings in shares of CDW by 173.3% during the first quarter. ING Groep NV now owns 55,411 shares of the information technology services provider's stock worth $8,880,000 after purchasing an additional 35,134 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of CDW during the first quarter worth about $373,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CDW. 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. Citigroup increased 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. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group lowered their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, CDW currently has an average rating of "Hold" and an average price target of $202.00.

CDW Stock Performance

Shares of CDW opened at $162.92 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.20. CDW Corporation has a one year low of $137.31 and a one year high of $231.38. The company has a 50-day simple moving average of $176.17 and a two-hundred day simple moving average of $174.95. The firm has a market capitalization of $21.45 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business 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 firm earned $2.50 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is 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 currently 31.06%.

Insider Buying and Selling at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the transaction, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company's stock.

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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