E. Ohman J or Asset Management AB increased its holdings in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 600.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,243 shares of the information technology services provider’s stock after buying an additional 32,780 shares during the period. E. Ohman J or Asset Management AB’s holdings in CDW were worth $4,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Kendall Capital Management acquired a new position in CDW during the second quarter worth $3,584,000. Man Group plc purchased a new position in CDW during the second quarter valued at $1,262,000. Pzena Investment Management LLC acquired a new stake in shares of CDW in the second quarter valued at about $371,135,000. Raiffeisen Bank International AG grew its position in shares of CDW by 17,453.5% in the second quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock valued at $2,111,000 after purchasing an additional 15,010 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in shares of CDW during the second quarter worth about $300,073,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on CDW shares. Morgan Stanley lifted their price objective on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays reduced their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Citigroup lifted their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $150.12.
Get Our Latest Stock Report on CDW
CDW Stock Up 4.0%
NASDAQ CDW opened at $164.62 on Friday. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $165.56. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The business’s fifty day simple moving average is $144.31 and its 200-day simple moving average is $134.91. The firm has a market cap of $20.58 billion, a PE ratio of 19.79, a P/E/G ratio of 2.07 and a beta of 0.95.
CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current year.
CDW Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.5%. CDW’s dividend payout ratio is currently 30.29%.
Insider Activity at CDW
In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.
CDW Profile
CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.
Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.
Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.
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