BI Asset Management Fondsmaeglerselskab A S Boosts Stake in CDW Corporation $CDW

Key Points

• BI Asset Management increased its CDW stake by 35.5% in the fourth quarter, bringing its holdings to 66,926 shares worth about $9.1 million.
• Other institutions were also active, with several hedge funds adding to positions and 93.15% of CDW now owned by hedge funds and other institutional investors.
• CDW reported quarterly EPS of $2.28, matching expectations, while revenue of $5.68 billion topped estimates; the company also announced a $0.63 quarterly dividend and recently saw a director buy 18,000 shares.

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,926 shares of the information technology services provider's stock after acquiring an additional 17,541 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of CDW worth $9,115,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Marshall Wace LLP raised its position in shares of CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider's stock worth $95,448,000 after purchasing an additional 430,796 shares during the last quarter. SG Americas Securities LLC raised its position in shares of CDW by 531.9% during the 4th quarter. SG Americas Securities LLC now owns 189,285 shares of the information technology services provider's stock worth $25,781,000 after purchasing an additional 159,332 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of CDW during the 4th quarter worth about $18,948,000. PFA Pension Forsikringsaktieselskab acquired a new position in shares of CDW during the 4th quarter worth about $16,274,000. Finally, Danske Bank A S acquired a new stake in CDW in the 3rd quarter valued at about $13,347,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDW has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of CDW from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 26th. Barclays cut their price objective on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Raymond James Financial set a $150.00 price objective on shares of CDW in a report on Wednesday, May 6th. Finally, UBS Group cut their price objective on shares of CDW from $162.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CDW has an average rating of "Moderate Buy" and a consensus target price of $140.63.

CDW Stock Performance

NASDAQ:CDW opened at $133.04 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. The stock has a market capitalization of $17.00 billion, a P/E ratio of 16.18, a PEG ratio of 1.78 and a beta of 1.00. The company has a 50 day moving average price of $122.51 and a 200 day moving average price of $129.01. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $183.91.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts' consensus estimates of $2.28. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $2.15 EPS. Equities research analysts forecast that CDW Corporation will post 10.09 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW's dividend payout ratio (DPR) is presently 30.66%.

Insider Buying and Selling at CDW

In related news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares of the company's stock, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company's stock.

CDW Company Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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