CDW Corporation $CDW Stake Decreased by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. cut its position in shares of CDW Corporation (NASDAQ:CDW) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 808,201 shares of the information technology services provider’s stock after selling 141,180 shares during the quarter. Mawer Investment Management Ltd. owned 0.65% of CDW worth $103,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kendall Capital Management acquired a new stake in shares of CDW during the 2nd quarter worth approximately $3,584,000. Man Group plc bought a new stake in shares of CDW during the second quarter valued at approximately $1,262,000. Raiffeisen Bank International AG raised its stake in shares of CDW by 17,453.5% in the second quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock valued at $2,111,000 after purchasing an additional 15,010 shares in the last quarter. Pzena Investment Management LLC acquired a new position in shares of CDW in the second quarter valued at $371,135,000. Finally, Jupiter Topco LLC acquired a new position in shares of CDW in the second quarter valued at $300,073,000. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

CDW traded down $1.14 during trading on Friday, hitting $171.65. The company’s stock had a trading volume of 1,509,339 shares, compared to its average volume of 1,694,941. The firm’s 50 day moving average price is $150.72 and its two-hundred day moving average price is $134.84. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 2.32. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $175.19. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92.

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

CDW Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of CDW from $159.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Barclays dropped their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Citigroup raised their price objective on shares of CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Morgan Stanley increased their price target on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One 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 stock. According to data from MarketBeat, CDW 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.