Impax Asset Management Group plc Trims Position in CDW Corporation $CDW

Impax Asset Management Group plc cut its stake in CDW Corporation (NASDAQ:CDW) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,693 shares of the information technology services provider’s stock after selling 2,609 shares during the period. Impax Asset Management Group plc’s holdings in CDW were worth $6,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CDW by 0.4% during the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock valued at $2,683,767,000 after acquiring an additional 72,550 shares during the period. Select Equity Group L.P. lifted its position in CDW by 5.6% in the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock worth $592,311,000 after purchasing an additional 195,511 shares during the period. Invesco Ltd. raised its holdings in shares of CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock worth $396,157,000 after buying an additional 45,217 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 buying an additional 1,332,454 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of CDW by 2.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,508,543 shares of the information technology services provider’s stock valued at $241,759,000 after buying an additional 42,472 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

NASDAQ CDW opened at $146.75 on Friday. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.05 and a beta of 1.03. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30. The business’s fifty day moving average price is $156.70 and its 200-day moving average price is $168.30. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $222.92.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.09. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.7%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, November 25th. CDW’s dividend payout ratio is 31.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI reduced their price objective on shares of CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Barclays reduced their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. UBS Group lowered their target price on shares of CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $196.29.

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.