Korea Investment CORP Acquires New Position in CDW Corporation $CDW

Korea Investment CORP acquired a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,622 shares of the information technology services provider's stock, valued at approximately $1,916,000.

A number of other large investors have also recently bought and sold shares of CDW. Jones Financial Companies Lllp lifted its holdings in shares of CDW by 316.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider's stock worth $785,000 after purchasing an additional 3,719 shares during the last quarter. Empowered Funds LLC increased its position in CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider's stock worth $2,897,000 after buying an additional 216 shares during the period. California State Teachers Retirement System increased its position in CDW by 0.6% in the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider's stock worth $40,309,000 after buying an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in CDW by 1,339.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider's stock valued at $8,819,000 after buying an additional 45,950 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in CDW by 17.7% in the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider's stock valued at $7,309,000 after buying an additional 6,143 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock opened at $132.51 on Tuesday. The company has a 50-day simple moving average of $136.39 and a 200 day simple moving average of $128.45. The company has a market capitalization of $16.57 billion, a P/E ratio of 15.93, a PEG ratio of 1.81 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same quarter last year, the company earned $2.60 EPS. CDW's quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. CDW's dividend payout ratio (DPR) is 30.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CDW shares. Raymond James Financial set a $150.00 price target on shares of CDW in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings raised shares of CDW from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Royal Bank Of Canada upgraded shares of CDW to an "outperform" rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. Finally, Barclays dropped their price target on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and an average target price of $147.00.

Insider Activity at CDW

In related news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the purchase, the director directly owned 51,025 shares of the company's stock, valued at $5,685,715.75. The trade was a 54.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Elizabeth H. Connelly sold 26,695 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.82% of the company's stock.

CDW Company Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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