CDW Corporation $CDW Stock Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. reduced its stake in shares of CDW Corporation (NASDAQ:CDW) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,201 shares of the information technology services provider’s stock after selling 141,180 shares during the quarter. Mawer Investment Management Ltd.’s holdings in CDW were worth $103,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Aberdeen Group plc raised its position in CDW by 69.9% in the 3rd quarter. Aberdeen Group plc now owns 229,912 shares of the information technology services provider’s stock worth $29,466,000 after purchasing an additional 94,618 shares during the last quarter. Allworth Financial LP lifted its holdings in CDW by 1,902.0% during the 3rd quarter. Allworth Financial LP now owns 23,584 shares of the information technology services provider’s stock worth $3,023,000 after buying an additional 22,406 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in CDW by 324.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 235,940 shares of the information technology services provider’s stock worth $30,255,000 after buying an additional 180,344 shares in the last quarter. Eurizon Capital SGR S.p.A. boosted its position in CDW by 1,257.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 183,264 shares of the information technology services provider’s stock valued at $23,487,000 after buying an additional 169,766 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in CDW by 100.4% in the 3rd quarter. CENTRAL TRUST Co now owns 958 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 0.7%

Shares of CDW traded down $1.14 during trading hours on Friday, reaching $171.65. The stock had a trading volume of 1,509,339 shares, compared to its average volume of 1,694,941. The company has a market cap of $21.42 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.52 and a beta of 0.92. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $175.19. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 2.32. The firm has a 50-day moving average of $150.72 and a 200 day moving average of $134.84.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.28. CDW had a return on equity of 52.23% and a net margin of 4.48%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts expect that CDW Corporation will post 10.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.68 per share. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date is Wednesday, November 25th. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. CDW’s dividend payout ratio (DPR) is presently 29.40%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDW shares. JPMorgan Chase & Co. lifted their target price on CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. UBS Group upped their price target on CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Barclays lowered their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.38.

CDW Company Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.