OMERS ADMINISTRATION Corp Purchases New Position in CDW Corporation $CDW

Key Points

• OMERS Administration Corp. purchased 31,798 CDW shares during the second quarter, worth approximately $4.47 million. Institutional investors and hedge funds collectively own 93.15% of the company.
• Analysts maintain a generally positive outlook, with CDW receiving a consensus rating of “Moderate Buy” and an average price target of $147.00; several firms recently upgraded the stock.
• CDW exceeded quarterly expectations, reporting $2.91 in earnings per share and $6.57 billion in revenue, while revenue rose 10% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 1.8% yield.

OMERS ADMINISTRATION Corp purchased a new stake in CDW Corporation (NASDAQ:CDW - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 31,798 shares of the information technology services provider's stock, valued at approximately $4,472,000.

Several other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider's stock worth $38,812,000 after purchasing an additional 48,547 shares during the last quarter. Kendall Capital Management acquired a new stake in shares of CDW during the 2nd quarter worth about $3,584,000. Pzena Investment Management LLC bought a new position in CDW during the 2nd quarter valued at about $371,135,000. Fenimore Asset Management Inc lifted its holdings in CDW by 0.8% during the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider's stock valued at $156,707,000 after purchasing an additional 9,485 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in CDW in the first quarter valued at about $1,587,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on CDW shares. UBS Group decreased their price objective on shares of CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Raymond James Financial set a $150.00 target price on CDW in a report on Wednesday, May 6th. Weiss Ratings upgraded CDW from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Royal Bank Of Canada upgraded CDW to an "outperform" rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Insider Buying and Selling

In other news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction 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 completion of the sale, the insider directly owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company's stock.

CDW Trading Up 7.2%

Shares of NASDAQ CDW opened at $142.09 on Wednesday. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The company has a 50-day moving average of $136.63 and a two-hundred day moving average of $128.48. The company has a market cap of $17.76 billion, a PE ratio of 17.08, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly 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. The business had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. As a group, equities analysts expect that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW's dividend payout ratio (DPR) is presently 30.29%.

CDW 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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