MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in CDW Corporation $CDW

by · The Cerbat Gem

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 10.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 118,399 shares of the information technology services provider’s stock after purchasing an additional 10,727 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CDW were worth $18,975,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of CDW by 0.4% in 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 purchasing an additional 72,550 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock valued at $447,596,000 after purchasing an additional 378,841 shares during the period. Invesco Ltd. boosted its holdings in shares of CDW by 1.9% in the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock valued at $396,157,000 after purchasing an additional 45,217 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 1,332,454 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of CDW by 10.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider’s stock valued at $282,701,000 after purchasing an additional 157,747 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CDW shares. Citigroup boosted 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. 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. JPMorgan Chase & Co. boosted their price target on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, UBS Group reduced their price objective on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research note 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. According to MarketBeat.com, CDW has a consensus rating of “Hold” and a consensus target price of $202.00.

Check Out Our Latest Analysis on CDW

CDW Stock Performance

Shares of NASDAQ:CDW opened at $169.73 on Monday. The company has a market capitalization of $22.24 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.82 and a beta of 0.98. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $230.86. 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 firm has a 50 day moving average of $172.24 and a 200 day moving average of $170.56.

CDW (NASDAQ:CDW – Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. CDW’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, sell-side analysts predict that CDW Corporation will post 9.41 earnings per share 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 given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW’s dividend payout ratio is presently 31.06%.

CDW Company Profile

(Free Report)

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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