National Pension Service Acquires 14,930 Shares of CDW (NASDAQ:CDW)

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National Pension Service increased its holdings in shares of CDW (NASDAQ:CDW) by 7.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 224,137 shares of the information technology services provider’s stock after acquiring an additional 14,930 shares during the period. National Pension Service owned about 0.15% of CDW worth $24,879,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Neuburgh Advisers LLC raised its position in CDW by 9.4% during the 1st quarter. Neuburgh Advisers LLC now owns 9,456 shares of the information technology services provider’s stock valued at $911,000 after purchasing an additional 816 shares in the last quarter. Full Sail Capital LLC bought a new stake in CDW during the 1st quarter valued at $203,000. NumerixS Investment Technologies Inc raised its position in CDW by 146.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 12,800 shares of the information technology services provider’s stock valued at $1,218,000 after purchasing an additional 7,600 shares in the last quarter. Machina Capital S.A.S. raised its position in CDW by 8.9% during the 2nd quarter. Machina Capital S.A.S. now owns 2,336 shares of the information technology services provider’s stock valued at $259,000 after purchasing an additional 191 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in CDW during the 2nd quarter valued at $28,000. 91.38% of the stock is owned by hedge funds and other institutional investors.

CDW stock traded up $1.99 on Thursday, hitting $122.37. 96,740 shares of the company’s stock were exchanged, compared to its average volume of 673,914. CDW has a 12-month low of $74.32 and a 12-month high of $122.20. The firm has a 50 day moving average price of $114.11 and a two-hundred day moving average price of $107.03. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.09 and a current ratio of 1.28. The stock has a market cap of $17.71 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the business earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that CDW will post 5.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.18 annualized dividend and a yield of 0.96%. CDW’s dividend payout ratio (DPR) is 23.14%.

Several research firms have recently commented on CDW. Zacks Investment Research raised CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 price target for the company in a research report on Tuesday, August 6th. Morgan Stanley boosted their price target on CDW from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Deutsche Bank began coverage on CDW in a research report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target for the company. JPMorgan Chase & Co. lowered CDW from a “neutral” rating to an “underweight” rating and set a $116.00 price target for the company. in a research report on Monday, August 5th. They noted that the move was a valuation call. Finally, Bank of America began coverage on CDW in a research report on Tuesday, July 30th. They issued a “buy” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.13.

In other CDW news, insider Neil B. Fairfield sold 2,118 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $118.12, for a total transaction of $250,178.16. Following the sale, the insider now owns 7,054 shares in the company, valued at approximately $833,218.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Collin B. Kebo sold 3,600 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $106.72, for a total value of $384,192.00. Following the sale, the insider now owns 18,752 shares in the company, valued at approximately $2,001,213.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,673 shares of company stock worth $14,744,616. 2.25% of the stock is owned by company insiders.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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