Skandinaviska Enskilda Banken AB publ Has $6.24 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,870 shares of the information technology services provider’s stock after purchasing an additional 303 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in CDW were worth $6,235,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of CDW by 60.7% during the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares during the period. Acadian Asset Management LLC boosted its holdings in CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after acquiring an additional 30,012 shares in the last quarter. Rafferty Asset Management LLC grew its stake in CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after acquiring an additional 55,239 shares during the period. Insight Wealth Strategies LLC bought a new stake in shares of CDW during the first quarter valued at approximately $3,940,000. Finally, Madison Asset Management LLC increased its holdings in shares of CDW by 2.8% during the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock valued at $85,132,000 after acquiring an additional 10,183 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 1.1 %

Shares of CDW stock opened at $225.30 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.27 and a beta of 1.04. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The company has a 50-day simple moving average of $222.12 and a two-hundred day simple moving average of $229.85.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.43 earnings per share. Research analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio is presently 30.96%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CDW shares. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Stifel Nicolaus raised their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays decreased their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.63.

Insider Transactions at CDW

In related news, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares in the company, valued at $22,090,530. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at $22,090,530. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.