IFM Investors Pty Ltd Has $4.57 Million Stock Holdings in CDW Corporation (NASDAQ:CDW)

IFM Investors Pty Ltd raised its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,527 shares of the information technology services provider's stock after buying an additional 2,549 shares during the period. IFM Investors Pty Ltd's holdings in CDW were worth $4,572,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CDW. Orion Capital Management LLC acquired a new stake in CDW during the 4th quarter valued at $30,000. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter worth $32,000. Optiver Holding B.V. raised its holdings in shares of CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 185 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of CDW during the first quarter worth $43,000. Institutional investors own 93.15% of the company's stock.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider directly owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays cut their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $208.71.

CDW Stock Up 1.8%

CDW stock traded up $3.23 during mid-day trading on Tuesday, hitting $180.59. 132,460 shares of the company's stock were exchanged, compared to its average volume of 1,236,046. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The stock has a market cap of $23.78 billion, a P/E ratio of 22.31, a P/E/G ratio of 3.07 and a beta of 0.93. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26. The stock has a 50 day moving average of $177.67 and a two-hundred day moving average of $175.59.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 earnings per share. As a group, analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

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.