BI Asset Management Fondsmaeglerselskab A S Has $696,000 Position in CDW Corporation $CDW

Key Points

• BI Asset Management sharply reduced its CDW position by 91.4% in the first quarter, leaving it with 5,750 shares worth about $696,000.
• Analyst sentiment improved, with multiple firms upgrading CDW and the stock carrying a consensus Moderate Buy rating and average price target of $144.12.
• CDW reported Q1 earnings and revenue above expectations, with EPS of $2.28 matching estimates and revenue of $5.68 billion topping forecasts; the company also paid a quarterly dividend of $0.63 per share.

BI Asset Management Fondsmaeglerselskab A S cut its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 91.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,750 shares of the information technology services provider's stock after selling 61,176 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in CDW were worth $696,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider's stock valued at $38,812,000 after acquiring an additional 48,547 shares during the period. Local Pensions Partnership Investment Ltd lifted its position in CDW by 7.8% during the fourth quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider's stock worth $33,940,000 after acquiring an additional 18,000 shares during the last quarter. Foyston Gordon & Payne Inc boosted its holdings in shares of CDW by 30.9% during the third quarter. Foyston Gordon & Payne Inc now owns 52,732 shares of the information technology services provider's stock worth $8,399,000 after acquiring an additional 12,456 shares during the period. Fenimore Asset Management Inc boosted its holdings in shares of CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider's stock worth $156,707,000 after acquiring an additional 9,485 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of CDW in the third quarter valued at approximately $4,110,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analysts Set New Price Targets

CDW has been the subject of several recent research reports. Royal Bank Of Canada upgraded CDW to an "outperform" rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings raised CDW from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Morgan Stanley raised shares of CDW from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $142.00 to $170.00 in a research report on Tuesday. Finally, Citigroup decreased their price target on shares of CDW from $150.00 to $123.00 and set a "neutral" rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $144.12.

CDW Stock Performance

NASDAQ:CDW opened at $128.02 on Friday. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.76 and a beta of 1.00. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $183.91. 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 fifty day moving average price of $124.18 and a 200-day moving average price of $127.66.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting analysts' consensus estimates of $2.28. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.CDW's revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. As a group, equities analysts anticipate that CDW Corporation will post 10.03 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 22nd. CDW's dividend payout ratio is presently 30.66%.

Insider Buying and Selling

In other news, Director David W. Nelms bought 18,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares in the company, valued at $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

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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