IFM Investors Pty Ltd Purchases 871 Shares of CDW Co. (NASDAQ:CDW)

IFM Investors Pty Ltd grew its position in CDW Co. (NASDAQ:CDW) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,527 shares of the information technology services provider’s stock after purchasing an additional 871 shares during the period. IFM Investors Pty Ltd’s holdings in CDW were worth $6,456,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new stake in CDW during the second quarter worth about $35,000. ORG Partners LLC bought a new stake in CDW during the second quarter worth about $34,000. Summit Securities Group LLC bought a new stake in CDW during the second quarter worth about $40,000. Continuum Advisory LLC raised its holdings in CDW by 1,692.3% during the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after acquiring an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in CDW during the second quarter worth about $56,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of several analyst reports. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays lowered their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.00.

Insider Activity

In other news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

CDW Price Performance

Shares of NASDAQ CDW opened at $217.01 on Friday. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The business’s 50 day moving average price is $221.50 and its two-hundred day moving average price is $224.90. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The company has a market cap of $29.17 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last issued its quarterly 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 company 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 company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 earnings per share. On average, analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is presently 30.96%.

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.