CDW Corporation (NASDAQ:CDW) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CDW Corporation by 5.8%, now owning 29,255 shares valued at approximately $4.69 million.
• Insider transactions revealed that Christine A. Leahy and Frederick J. Kulevich sold significant shares, decreasing their positions by 22.02% and 43.84% respectively.
• Analysts project a consensus price target for CDW shares of $208.50, with ratings showing a mix of holds and buys from various equity research firms.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,255 shares of the information technology services provider's stock after buying an additional 1,611 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CDW were worth $4,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its stake in CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after buying an additional 1,823,788 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after purchasing an additional 1,372,874 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in CDW in the 4th quarter valued at approximately $105,705,000. Massachusetts Financial Services Co. MA increased its position in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares during the period. Finally, Invesco Ltd. grew its stake in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after purchasing an additional 524,559 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the business'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 completion of the sale, the insider owned 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

CDW Price Performance

CDW traded down $5.52 on Friday, hitting $168.86. 1,165,055 shares of the company's stock were exchanged, compared to its average volume of 776,780. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. 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 firm has a 50-day moving average price of $177.88 and a 200-day moving average price of $175.67. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.84 and a beta of 0.95.

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

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's payout ratio is currently 30.98%.

Wall Street Analysts Forecast Growth

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

CDW Profile

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.