CDW Co. (NASDAQ:CDW) Shares Bought by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,756 shares of the information technology services provider’s stock after acquiring an additional 1,954 shares during the quarter. CDW accounts for 3.0% of Pensioenfonds Rail & OV’s portfolio, making the stock its 11th largest holding. Pensioenfonds Rail & OV owned 0.13% of CDW worth $39,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in CDW by 2.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,965 shares of the information technology services provider’s stock worth $1,356,000 after buying an additional 133 shares during the period. California State Teachers Retirement System raised its holdings in shares of CDW by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 212,947 shares of the information technology services provider’s stock valued at $48,407,000 after acquiring an additional 817 shares during the period. CIBC Asset Management Inc lifted its position in shares of CDW by 94.6% in the 4th quarter. CIBC Asset Management Inc now owns 37,523 shares of the information technology services provider’s stock valued at $8,530,000 after acquiring an additional 18,243 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in CDW by 2.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,333 shares of the information technology services provider’s stock worth $3,713,000 after purchasing an additional 356 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in CDW during the 4th quarter worth approximately $272,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDW. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Barclays dropped their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.75.

CDW Trading Down 3.8 %

Shares of NASDAQ CDW opened at $217.81 on Wednesday. The stock has a market cap of $29.27 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.40 and a beta of 1.04. The business has a 50 day simple moving average of $221.05 and a 200 day simple moving average of $228.88. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the company earned $2.43 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. CDW’s dividend payout ratio is currently 30.96%.

Insider Transactions at CDW

In related news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.