Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 4,300 Shares of CDW Corporation $CDW

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in CDW Corporation by 12.8%, purchasing an additional 4,300 shares, bringing its total to 37,851 shares valued at $6,066,000.
• CDW Corporation's recent earnings report showed an EPS of $2.60, exceeding expectations, with revenue reaching $5.98 billion, a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.625 per share, representing an annual yield of 1.5%, with the ex-dividend date set for August 25th.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in CDW Corporation (NASDAQ:CDW - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,851 shares of the information technology services provider's stock after purchasing an additional 4,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in CDW were worth $6,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. GW&K Investment Management LLC raised its holdings in shares of CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of CDW in the fourth quarter valued at about $30,000. Bayforest Capital Ltd purchased a new stake in shares of CDW in the first quarter valued at about $31,000. Pandora Wealth Inc. purchased a new stake in shares of CDW in the first quarter valued at about $32,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of CDW in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded down $3.9170 on Thursday, reaching $162.9930. 173,369 shares of the company's stock were exchanged, compared to its average volume of 1,320,920. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 2.78 and a beta of 0.95. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $231.38. The stock has a fifty day simple moving average of $174.27 and a 200-day simple moving average of $173.25.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. As a group, sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's dividend payout ratio (DPR) is currently 31.06%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CDW. UBS Group reduced their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup increased their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Barclays reduced their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, CDW currently has an average rating of "Hold" and an average price target of $202.00.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.