Vaughan Nelson Investment Management L.P. Has $10.14 Million Holdings in CDW Corporation $CDW

Key Points

• Vaughan Nelson Investment Management L.P. significantly reduced its stake in CDW Corporation by 66.7%, holding 56,802 shares valued at approximately $10.14 million after selling over 113,000 shares during the second quarter.
• Despite the decrease in holdings by Vaughan Nelson, several other institutional investors increased their positions in CDW, with notable growth from TD Private Client Wealth LLC (781.3%) and Steph & Co. (917.6%).
• CDW Corporation reported better-than-expected earnings for the second quarter, with $2.60 earnings per share against a consensus estimate of $2.49, and announced a quarterly dividend of $0.625 per share.

Vaughan Nelson Investment Management L.P. decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 66.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,802 shares of the information technology services provider's stock after selling 113,971 shares during the quarter. Vaughan Nelson Investment Management L.P.'s holdings in CDW were worth $10,144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC grew its position in shares of CDW by 12.1% in the second quarter. V Square Quantitative Management LLC now owns 1,423 shares of the information technology services provider's stock valued at $254,000 after purchasing an additional 154 shares during the last quarter. CX Institutional grew its position in shares of CDW by 32.7% in the second quarter. CX Institutional now owns 1,208 shares of the information technology services provider's stock valued at $216,000 after purchasing an additional 298 shares during the last quarter. Steph & Co. grew its position in shares of CDW by 917.6% in the second quarter. Steph & Co. now owns 692 shares of the information technology services provider's stock valued at $124,000 after purchasing an additional 624 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of CDW by 781.3% in the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider's stock valued at $488,000 after purchasing an additional 2,422 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CDW by 39.6% in the second quarter. GAMMA Investing LLC now owns 2,928 shares of the information technology services provider's stock valued at $523,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Trading Down 0.1%

Shares of CDW stock opened at $159.27 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The stock has a market cap of $20.87 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 2.64 and a beta of 1.01. The stock has a 50 day simple moving average of $165.76 and a 200 day simple moving average of $169.21. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $226.79.

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 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 firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were paid a dividend of $0.625 per share. The ex-dividend date was Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.6%. CDW's dividend payout ratio is presently 31.06%.

Analyst Upgrades and Downgrades

CDW has been the topic of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CDW in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barclays cut their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Citigroup boosted their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group cut their price target on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $202.00.

About CDW

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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