CDW Corporation (NASDAQ:CDW) Shares Bought by ING Groep NV

Key Points

• ING Groep NV increased its stake in CDW Corporation by 173.3% in the 1st quarter, holding 55,411 shares valued at approximately $8.88 million.
• Major institutional investors such as Massachusetts Financial Services Co. and D.E. Shaw & Co. have also significantly increased their holdings in CDW, reflecting strong institutional interest.
• CDW's quarterly earnings exceeded expectations with a reported earnings per share of $2.15, surpassing estimates of $1.96, alongside revenue growth of 6.7% year-over-year.

ING Groep NV lifted its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 173.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,411 shares of the information technology services provider's stock after purchasing an additional 35,134 shares during the period. ING Groep NV's holdings in CDW were worth $8,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDW. LPL Financial LLC increased its holdings in shares of CDW by 6.3% in the 4th quarter. LPL Financial LLC now owns 42,132 shares of the information technology services provider's stock valued at $7,333,000 after acquiring an additional 2,503 shares during the last quarter. Franklin Resources Inc. raised its holdings in CDW by 12.7% during the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after purchasing an additional 13,748 shares in the last quarter. World Investment Advisors lifted its position in shares of CDW by 5.2% during the 4th quarter. World Investment Advisors now owns 1,847 shares of the information technology services provider's stock worth $321,000 after buying an additional 91 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of CDW during the 4th quarter worth approximately $6,889,000. Finally, Aviva PLC grew its position in shares of CDW by 1,447.5% in the 4th quarter. Aviva PLC now owns 80,469 shares of the information technology services provider's stock valued at $14,005,000 after buying an additional 75,269 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider owned 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. UBS Group cut their price target on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upped 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. Barclays lowered their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Citigroup lifted their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $3.63 during midday trading on Thursday, hitting $161.88. The stock had a trading volume of 1,852,952 shares, compared to its average volume of 1,034,955. The company has a market capitalization of $21.32 billion, a PE ratio of 20.11, a P/E/G ratio of 2.78 and a beta of 0.95. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $231.38. The stock has a 50 day moving average price of $176.50 and a two-hundred day moving average price of $175.14. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 2.28.

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

CDW Announces Dividend

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