Forsta AP Fonden Sells 11,600 Shares of CDW Corporation $CDW

Forsta AP Fonden lessened its stake in CDW Corporation (NASDAQ:CDW) by 26.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,600 shares of the information technology services provider’s stock after selling 11,600 shares during the period. Forsta AP Fonden’s holdings in CDW were worth $5,643,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in shares of CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in CDW during the 1st quarter valued at $31,000. Pandora Wealth Inc. bought a new stake in CDW in the 1st quarter worth $32,000. Stone House Investment Management LLC bought a new position in shares of CDW during the first quarter valued at about $34,000. Finally, Capital Analysts LLC purchased a new stake in shares of CDW during the first quarter worth about $46,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDW shares. Barclays reduced their price target on CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Evercore ISI reduced their target price on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. UBS Group dropped their price target on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.67.

CDW Trading Down 1.1%

NASDAQ:CDW opened at $145.08 on Friday. The firm has a market capitalization of $18.89 billion, a P/E ratio of 18.32, a PEG ratio of 2.04 and a beta of 1.03. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30. CDW Corporation has a one year low of $137.31 and a one year high of $222.92. The company’s 50-day simple moving average is $156.21 and its 200 day simple moving average is $168.21.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. As a group, analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio (DPR) is presently 31.57%.

CDW Company 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.