BI Asset Management Fondsmaeglerselskab A S Has $696,000 Stock Holdings in CDW Corporation $CDW

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in CDW Corporation (NASDAQ:CDW) by 91.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,750 shares of the information technology services provider’s stock after selling 61,176 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in CDW were worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in CDW by 20.5% in the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after buying an additional 48,547 shares in the last quarter. Local Pensions Partnership Investment Ltd raised its stake in CDW by 7.8% during the fourth quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock worth $33,940,000 after acquiring an additional 18,000 shares in the last quarter. Foyston Gordon & Payne Inc raised its stake in CDW by 30.9% during the third quarter. Foyston Gordon & Payne Inc now owns 52,732 shares of the information technology services provider’s stock worth $8,399,000 after acquiring an additional 12,456 shares in the last quarter. Fenimore Asset Management Inc lifted its holdings in shares of CDW by 0.8% in the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after acquiring an additional 9,485 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of CDW in the third quarter worth about $4,110,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CDW shares. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. Barclays dropped their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $142.00 to $170.00 in a research note on Tuesday. Finally, Citigroup dropped their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $144.12.

CDW Stock Performance

CDW stock opened at $128.02 on Friday. The business has a 50 day moving average of $124.18 and a 200-day moving average of $127.66. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $183.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06. The company has a market capitalization of $16.35 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.76 and a beta of 1.00.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business earned $2.15 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts predict that CDW Corporation will post 10.03 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. CDW’s dividend payout ratio (DPR) is presently 30.66%.

Insider Activity

In other CDW news, Director David W. Nelms purchased 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company’s stock.

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.