Virtu Financial LLC Invests $267,000 in CDW Corporation $CDW

Key Points

• Virtu Financial LLC has invested approximately $267,000 in CDW Corporation by acquiring 1,666 shares during the first quarter.
• CDW recently announced a quarterly dividend of $0.625 per share, which represents an annualized yield of 1.5%.
• Analysts have mixed ratings on CDW, with an average target price of $202.00 and a consensus rating of "Hold."

Virtu Financial LLC bought a new stake in CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,666 shares of the information technology services provider's stock, valued at approximately $267,000.

Several other large investors have also modified their holdings of CDW. Vestcor Inc grew its position in CDW by 1.8% in the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock valued at $652,000 after buying an additional 71 shares during the last quarter. TD Private Client Wealth LLC raised its position in CDW by 30.3% in the first quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock worth $50,000 after acquiring an additional 72 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Benin Management CORP increased its holdings in shares of CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after purchasing an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock valued at $336,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barclays lowered their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Citigroup lifted their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, UBS Group decreased their target price on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $202.00.

CDW Stock Performance

CDW traded up $1.74 during trading on Tuesday, reaching $167.58. 1,037,443 shares of the company were exchanged, compared to its average volume of 1,330,754. The stock has a market cap of $21.96 billion, a P/E ratio of 20.82, a PEG ratio of 2.72 and a beta of 0.95. The firm has a 50 day moving average of $174.67 and a 200 day moving average of $173.33. 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 Corporation has a 52 week low of $137.31 and a 52 week high of $231.38.

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 (EPS) 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 analysts' expectations of $5.51 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio is presently 31.06%.

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.