CDW Corporation $CDW Stake Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in shares of CDW Corporation (NASDAQ:CDW) by 9,978.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,645,222 shares of the information technology services provider’s stock after purchasing an additional 1,628,898 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in CDW were worth $210,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of CDW in the 2nd quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC purchased a new position in shares of CDW during the 2nd quarter worth approximately $371,135,000. Jupiter Topco LLC purchased a new position in shares of CDW during the 2nd quarter worth approximately $300,073,000. Alyeska Investment Group L.P. boosted its position in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock worth $260,880,000 after purchasing an additional 1,230,517 shares during the period. Finally, Bank of America Corp DE acquired a new stake in CDW in the 2nd quarter valued at approximately $255,058,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 1.5%

Shares of NASDAQ:CDW opened at $154.99 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The firm has a market capitalization of $19.38 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. The firm’s 50-day moving average is $143.43 and its two-hundred day moving average is $134.35. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $161.10.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts predict that CDW Corporation will post 10.33 EPS for the current year.

CDW Dividend Announcement

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

Insider Buying and Selling at CDW

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

Wall Street Analysts Forecast Growth

CDW has been the subject of several research reports. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup upped their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Barclays decreased their price target on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, September 21st. Finally, Morgan Stanley raised their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $150.12.

About CDW

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.