Charles Schwab Investment Management Inc. Boosts Holdings in CDW Corporation (NASDAQ:CDW)

Charles Schwab Investment Management Inc. boosted its position in shares of CDW Corporation (NASDAQ:CDW) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 819,042 shares of the information technology services provider’s stock after buying an additional 22,184 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CDW were worth $131,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CDW. GW&K Investment Management LLC boosted its stake in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after buying an additional 75 shares during the period. Orion Capital Management LLC purchased a new position in CDW during the fourth quarter worth $30,000. Bayforest Capital Ltd purchased a new position in CDW during the first quarter worth $31,000. Optiver Holding B.V. boosted its stake in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after buying an additional 119 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock worth $42,000 after buying an additional 185 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW stock opened at $160.15 on Tuesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The business has a 50-day moving average price of $175.87 and a 200 day moving average price of $174.41. The company has a market capitalization of $20.99 billion, a P/E ratio of 19.89, a PEG ratio of 2.74 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 25th. CDW’s payout ratio is presently 31.06%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Citigroup boosted their target price on shares of CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. UBS Group lowered their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has an average rating of “Hold” and a consensus target price of $202.00.

CDW 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.