APG Asset Management N.V. lifted its holdings in CDW Co. (NASDAQ:CDW – Free Report) by 54.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,599 shares of the information technology services provider’s stock after buying an additional 93,862 shares during the quarter. APG Asset Management N.V. owned about 0.20% of CDW worth $55,472,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its position in CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after buying an additional 781,421 shares during the last quarter. Vanguard Group Inc. increased its position in CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares during the period. Lazard Asset Management LLC increased its position in CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares during the period. First Trust Advisors LP raised its holdings in CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in CDW during the 2nd quarter valued at about $79,549,000. 93.15% of the stock is owned by institutional investors.
Insider Activity
In other 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 completion of the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were 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 in the company, valued at $5,392,812.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.
CDW Stock Performance
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings data 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 company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.43 EPS. Analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.
CDW Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.08%. CDW’s dividend payout ratio is presently 30.96%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays reduced 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.
Get Our Latest Analysis on CDW
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.
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