Wellington Management Group LLP Sells 75,559 Shares of CDW Corporation $CDW

Key Points

• Wellington Management Group LLP reduced its holdings in CDW Corporation by 3.0% in Q1, selling 75,559 shares, which now brings their total ownership to about 1.87% worth approximately $394.76 million.
• CDW recently announced a quarterly dividend of $0.625 per share, representing an annual yield of 1.5%, with the payment date set for September 10th.
• Analysts have mixed ratings on CDW, with the stock currently holding an average rating of "Hold" and a price target ranging up to $205.00 from major firms like Citigroup and JPMorgan Chase.

Wellington Management Group LLP trimmed its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,463,216 shares of the information technology services provider's stock after selling 75,559 shares during the quarter. Wellington Management Group LLP owned 1.87% of CDW worth $394,755,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CDW. D. E. Shaw & Co. Inc. raised its holdings in CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after buying an additional 1,823,788 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after buying an additional 1,372,874 shares during the last quarter. Voloridge Investment Management LLC bought a new position in CDW during the 4th quarter valued at $105,705,000. Manning & Napier Advisors LLC purchased a new position in CDW during the 1st quarter worth $74,908,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of CDW by 15.7% in the 1st 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 acquiring an additional 378,841 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

CDW stock traded up $2.82 during trading on Friday, hitting $167.00. The stock had a trading volume of 1,576,479 shares, compared to its average volume of 1,231,103. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The stock's 50 day moving average is $173.99 and its two-hundred day moving average is $172.79. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $231.38. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly 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 company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. 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.