APG Asset Management US Inc. Purchases Shares of 1,402 CDW Co. (NASDAQ:CDW)

APG Asset Management US Inc. acquired a new stake in shares of CDW Co. (NASDAQ:CDW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,402 shares of the information technology services provider’s stock, valued at approximately $307,000.

Other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 43 shares during the last quarter. RDA Financial Network lifted its position in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after buying an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares in the last quarter. Finally, Boltwood Capital Management boosted its holdings in CDW by 3.2% during the first quarter. Boltwood Capital Management now owns 1,777 shares of the information technology services provider’s stock worth $455,000 after buying an additional 55 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Finally, Stifel Nicolaus increased their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Trading Up 3.3 %

NASDAQ CDW opened at $228.63 on Friday. The company’s 50 day moving average price is $221.22 and its 200 day moving average price is $229.45. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last issued its 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). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.43 EPS. On average, sell-side analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.08%. CDW’s payout ratio is 30.96%.

Insider Activity at CDW

In related news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was acquired 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 approximately $22,090,530. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s 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 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

CDW Company 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.