Canada Pension Plan Investment Board Acquires Shares of 9,210 CDW Corporation $CDW

Key Points

• Canada Pension Plan Investment Board acquired 9,210 CDW shares during the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 93.15% of CDW.
• CDW reported quarterly revenue of $6.57 billion and earnings of $2.91 per share, exceeding analyst estimates, while revenue increased 10% year over year.
• CDW shares opened at $151.58, and analysts maintain a “Moderate Buy” consensus with a $147 price target. The company also declared a quarterly dividend of $0.63 per share, representing a 1.7% yield.

Canada Pension Plan Investment Board acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,210 shares of the information technology services provider's stock, valued at approximately $1,295,000.

A number of other institutional investors have also made changes to their positions in the company. Allied Private Wealth LLC acquired a new stake in CDW during the 2nd quarter valued at $28,000. Keating Financial Advisory Services Inc. purchased a new stake in CDW during the 2nd quarter worth $28,000. Hollencrest Capital Management lifted its holdings in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after buying an additional 200 shares in the last quarter. Root Financial Partners LLC lifted its holdings in CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock worth $32,000 after buying an additional 93 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new position in CDW in the 2nd quarter valued at about $55,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.82% of the stock is owned by insiders.

CDW Trading Up 2.6%

NASDAQ CDW opened at $151.58 on Tuesday. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The company's fifty day moving average price is $138.29 and its two-hundred day moving average price is $128.62.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping 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 company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The company's revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.7%. CDW's dividend payout ratio is presently 30.29%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James Financial set a $150.00 target price on CDW in a research note on Wednesday, May 6th. UBS Group cut their price target on CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Barclays reduced their price target on CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada upgraded CDW to an "outperform" rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.00.

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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