National Pension Service Has $3.27 Million Stock Holdings in CDW Corporation $CDW

National Pension Service cut its position in CDW Corporation (NASDAQ:CDW) by 14.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,280 shares of the information technology services provider’s stock after selling 4,061 shares during the period. National Pension Service’s holdings in CDW were worth $3,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Jones Financial Companies Lllp raised its position in shares of CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after purchasing an additional 3,719 shares during the period. Empowered Funds LLC grew its position 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 purchasing an additional 216 shares during the period. California State Teachers Retirement System grew its position in shares of CDW by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after purchasing an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in CDW by 17.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock worth $7,309,000 after purchasing an additional 6,143 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. Barclays boosted their price objective on shares of CDW from $123.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.38.

CDW Stock Performance

NASDAQ CDW opened at $153.79 on Monday. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.02 and a beta of 0.95. The stock’s 50 day moving average price is $140.96 and its two-hundred day moving average price is $130.06. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $169.20.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.60 EPS. As a group, analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.6%. CDW’s dividend payout ratio is presently 30.29%.

Insider Buying and Selling

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

About CDW

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.