CDW Corporation $CDW Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of CDW Corporation (NASDAQ:CDW) by 18.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 39,000 shares of the information technology services provider’s stock after purchasing an additional 6,071 shares during the period. Handelsbanken Fonder AB’s holdings in CDW were worth $5,485,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its holdings in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. New Mexico Educational Retirement Board increased its holdings in CDW by 1.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after purchasing an additional 100 shares during the period. Hollencrest Capital Management raised its position in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in CDW in the 2nd quarter valued at about $28,000. Finally, Empowered Funds LLC boosted its stake in shares of CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after buying an additional 216 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. Barclays lowered their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, UBS Group dropped their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

CDW Price Performance

CDW stock opened at $139.42 on Friday. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $17.43 billion, a P/E ratio of 16.76, a PEG ratio of 1.88 and a beta of 0.96. The business has a 50 day simple moving average of $135.98 and a 200-day simple moving average of $128.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Corporation will post 10.21 EPS for the current year.

CDW Announces Dividend

The business 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of CDW 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 transaction, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Nelms bought 18,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.82% of the stock is currently owned by company insiders.

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.