Forsta AP Fonden Acquires 2,700 Shares of CDW Co. (NASDAQ:CDW)

Forsta AP Fonden boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 6.4% in the third quarter, Holdings Channel reports. The institutional investor owned 44,800 shares of the information technology services provider’s stock after acquiring an additional 2,700 shares during the period. Forsta AP Fonden’s holdings in CDW were worth $10,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CDW by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,673 shares of the information technology services provider’s stock worth $7,176,000 after purchasing an additional 5,835 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in CDW by 14.9% in the third quarter. Mediolanum International Funds Ltd now owns 20,434 shares of the information technology services provider’s stock worth $4,622,000 after purchasing an additional 2,655 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of CDW during the third quarter valued at about $204,000. Harbour Trust & Investment Management Co boosted its holdings in shares of CDW by 0.3% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock valued at $4,723,000 after buying an additional 62 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of CDW by 3.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 28,527 shares of the information technology services provider’s stock worth $6,456,000 after buying an additional 871 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired 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 in the company, valued at approximately $22,090,530. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

CDW Trading Down 1.0 %

NASDAQ CDW opened at $217.01 on Monday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a fifty day simple moving average of $221.50 and a two-hundred day simple moving average of $224.54. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock has a market cap of $29.17 billion, a P/E ratio of 27.09, a P/E/G 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 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 EPS. On average, analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

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

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays decreased their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Citigroup downgraded 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 research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

About CDW

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.