Handelsbanken Fonder AB Increases Stock Position in CDW Corporation $CDW

Handelsbanken Fonder AB lifted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 45.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,545 shares of the information technology services provider’s stock after buying an additional 11,070 shares during the quarter. Handelsbanken Fonder AB’s holdings in CDW were worth $4,841,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of CDW during the 3rd quarter valued at approximately $26,000. eCIO Inc. purchased a new stake in shares of CDW during the 4th quarter valued at approximately $61,000. Covestor Ltd lifted its stake in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 226 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of CDW during the 4th quarter valued at approximately $110,000. Finally, Steph & Co. lifted its stake in shares of CDW by 53.3% during the 4th quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock valued at $157,000 after buying an additional 400 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW stock opened at $110.82 on Friday. The firm’s 50 day simple moving average is $120.92 and its 200 day simple moving average is $130.31. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $14.16 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $186.70.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.28. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. CDW’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 EPS. As a group, analysts expect that CDW Corporation will post 10 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, May 22nd. CDW’s payout ratio is currently 30.66%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. Raymond James Financial set a $150.00 target price on shares of CDW in a report on Wednesday, May 6th. UBS Group decreased their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays decreased their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup decreased their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.14.

CDW Company 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.