CDW Corporation (CDW) Position Held by Nordea Investment Management AB

Nordea Investment Management AB held its stake in CDW Corporation (NASDAQ:CDW) during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,407 shares of the information technology services provider’s stock at the end of the second quarter. Nordea Investment Management AB’s holdings in CDW Corporation were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Achmea Investment Management B.V. bought a new position in shares of CDW Corporation during the 1st quarter valued at about $226,000. United Services Automobile Association bought a new position in shares of CDW Corporation during the 1st quarter valued at about $239,000. Cambridge Investment Research Advisors Inc. increased its position in shares of CDW Corporation by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock valued at $262,000 after purchasing an additional 58 shares during the last quarter. Financial Counselors Inc. increased its position in shares of CDW Corporation by 16.7% during the 2nd quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock valued at $271,000 after purchasing an additional 621 shares during the last quarter. Finally, Globeflex Capital L P increased its position in shares of CDW Corporation by 23,333.3% during the 1st quarter. Globeflex Capital L P now owns 4,921 shares of the information technology services provider’s stock valued at $284,000 after purchasing an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.

CDW Corporation (NASDAQ:CDW) last posted its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 earnings per share.

CDW Corporation announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Neal J. Campbell sold 2,400 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $69.30, for a total value of $166,320.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $68.56, for a total value of $459,352.00. The disclosure for this sale can be found here. Insiders sold 110,571 shares of company stock worth $6,888,441 over the last quarter. 2.60% of the stock is owned by company insiders.

Several brokerages have recently commented on CDW. BidaskClub lowered CDW Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered CDW Corporation from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. Robert W. Baird set a $71.00 price objective on CDW Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $71.00 price objective (up from $70.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $71.00 price objective on shares of CDW Corporation in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.95.

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CDW Corporation Profile

CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.

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Institutional Ownership by Quarter for CDW Corporation (NASDAQ:CDW)

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