KLP Kapitalforvaltning AS Raises Stock Holdings in CDW Corporation (NASDAQ:CDW)

KLP Kapitalforvaltning AS increased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 71.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,400 shares of the information technology services provider's stock after acquiring an additional 32,800 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.06% of CDW worth $12,564,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. United Bank grew its holdings in CDW by 12.2% in the 1st quarter. United Bank now owns 6,629 shares of the information technology services provider's stock valued at $1,062,000 after buying an additional 720 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in CDW by 100.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 7,458 shares of the information technology services provider's stock valued at $1,195,000 after buying an additional 3,738 shares in the last quarter. GW&K Investment Management LLC grew its holdings in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in CDW by 2.5% in the 1st quarter. Allianz Asset Management GmbH now owns 14,136 shares of the information technology services provider's stock valued at $2,265,000 after buying an additional 344 shares in the last quarter. Finally, Mader & Shannon Wealth Management Inc. grew its holdings in CDW by 36.5% in the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 43,650 shares of the information technology services provider's stock valued at $6,995,000 after buying an additional 11,676 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on CDW shares. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. UBS Group reduced their price objective on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $208.50.

CDW Price Performance

NASDAQ:CDW traded up $0.31 during mid-day trading on Friday, reaching $181.14. The stock had a trading volume of 631,840 shares, compared to its average volume of 1,332,841. The firm has a 50 day moving average price of $178.76 and a two-hundred day moving average price of $175.93. The stock has a market capitalization of $23.85 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.05 and a beta of 0.93. CDW Corporation has a one year low of $137.31 and a one year high of $237.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior 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. As a group, analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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

Insider Activity

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the sale, the insider 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW 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 completion of the sale, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

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.