39,974 Shares in CDW Corporation $CDW Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 39,974 shares of CDW during the second quarter, valued at approximately $5.6 million. Institutional investors collectively own 93.15% of the company.
• CDW reported quarterly EPS of $2.91, exceeding estimates of $2.80, while revenue rose 10% year over year to $6.57 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.12.
• CDW shares opened at $146.41, and the company continues to pay a quarterly dividend of $0.63, equivalent to an annualized $2.52 payout and a 1.7% yield.

Nykredit A S acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,974 shares of the information technology services provider's stock, valued at approximately $5,622,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Parkside Financial Bank & Trust grew its holdings in CDW by 48.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider's stock valued at $38,000 after buying an additional 87 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of CDW by 1.9% in the second quarter. HighTower Advisors LLC now owns 22,009 shares of the information technology services provider's stock worth $3,095,000 after buying an additional 419 shares in the last quarter. Studio Investment Management LLC boosted its position in shares of CDW by 6.0% in the second quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider's stock valued at $375,000 after acquiring an additional 150 shares during the period. HB Wealth Management LLC boosted its position in shares of CDW by 6.9% in the second quarter. HB Wealth Management LLC now owns 6,896 shares of the information technology services provider's stock valued at $970,000 after acquiring an additional 445 shares during the period. Finally, Saudi Central Bank grew its stake in CDW by 86.4% during the second quarter. Saudi Central Bank now owns 8,958 shares of the information technology services provider's stock valued at $1,260,000 after acquiring an additional 4,152 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Insider Buying and Selling at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. Citigroup increased their target price on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Barclays decreased their price objective on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research report on Monday. Royal Bank Of Canada upgraded shares of CDW to an "outperform" rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. Weiss Ratings raised shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Finally, Morgan Stanley increased their price target on shares of CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus target price of $150.12.

CDW Stock Up 0.2%

Shares of NASDAQ:CDW opened at $146.41 on Tuesday. The stock's 50-day moving average price is $142.10 and its 200-day moving average price is $131.14. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $167.00. The stock has a market capitalization of $18.30 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business's revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $2.60 earnings per share. On average, equities analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, August 25th. CDW's dividend payout ratio (DPR) is presently 30.29%.

About CDW

CDW Corporation NASDAQ: CDW is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.

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