Mirae Asset Global Investments Co. Ltd. Decreases Stake in CDW Co. (NASDAQ:CDW)

Mirae Asset Global Investments Co. Ltd. decreased its position in CDW Co. (NASDAQ:CDWGet Rating) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,140 shares of the information technology services provider’s stock after selling 9,427 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CDW were worth $7,717,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Denali Advisors LLC bought a new position in shares of CDW during the 1st quarter valued at approximately $54,000. Quent Capital LLC bought a new position in shares of CDW during the 1st quarter valued at approximately $56,000. Brown Brothers Harriman & Co. grew its position in shares of CDW by 129.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock valued at $82,000 after acquiring an additional 259 shares during the period. Acadian Asset Management LLC bought a new position in shares of CDW during the 1st quarter valued at approximately $103,000. Finally, Tobam bought a new position in shares of CDW during the 1st quarter valued at approximately $113,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Evercore ISI cut their price objective on shares of CDW from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Thursday, July 14th. Finally, Credit Suisse Group began coverage on shares of CDW in a report on Tuesday, August 16th. They issued an “outperform” rating and a $202.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.00.

CDW Trading Down 1.7 %

Shares of CDW stock opened at $165.40 on Thursday. The company has a market capitalization of $22.35 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. CDW Co. has a 52-week low of $152.15 and a 52-week high of $208.71. The business’s fifty day moving average is $175.11 and its 200 day moving average is $170.79. The company has a debt-to-equity ratio of 5.86, a quick ratio of 1.11 and a current ratio of 1.30.

CDW (NASDAQ:CDWGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The information technology services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.05. CDW had a return on equity of 132.68% and a net margin of 4.41%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that CDW Co. will post 9.22 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 25th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. CDW’s dividend payout ratio is presently 27.21%.

CDW Company Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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