IFM Investors Pty Ltd Grows Position in CDW Corporation (NASDAQ:CDW)

IFM Investors Pty Ltd boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,527 shares of the information technology services provider's stock after purchasing an additional 2,549 shares during the period. IFM Investors Pty Ltd's holdings in CDW were worth $4,572,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in CDW during the 4th quarter worth approximately $30,000. OFI Invest Asset Management purchased a new stake in CDW during the 4th quarter worth approximately $32,000. Optiver Holding B.V. grew its position in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the last quarter. Golden State Wealth Management LLC grew its position in CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 185 shares during the last quarter. Finally, Global X Japan Co. Ltd. purchased a new stake in CDW during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insiders Place Their Bets

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the transaction, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider directly owned 144,931 shares of the company's stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

CDW Trading Down 0.4%

NASDAQ CDW opened at $182.06 on Monday. The company has a market capitalization of $23.97 billion, a PE ratio of 22.56, a P/E/G ratio of 3.07 and a beta of 0.93. The company has a fifty day moving average of $177.29 and a 200 day moving average of $175.57. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. CDW's payout ratio is 30.98%.

Analysts Set New Price Targets

CDW has been the topic of a number of research reports. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Citigroup boosted their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $208.71.

About CDW

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.

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