DNB Asset Management AS Increases Holdings in CDW Co. (NASDAQ:CDW)

DNB Asset Management AS grew its holdings in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,604 shares of the information technology services provider’s stock after purchasing an additional 1,444 shares during the quarter. DNB Asset Management AS’s holdings in CDW were worth $5,296,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sandy Cove Advisors LLC purchased a new stake in CDW in the 4th quarter worth about $36,000. Blue Bell Private Wealth Management LLC purchased a new stake in CDW in the 4th quarter worth about $38,000. JFS Wealth Advisors LLC purchased a new stake in CDW in the 4th quarter worth about $76,000. Dark Forest Capital Management LP purchased a new stake in CDW in the 3rd quarter worth about $91,000. Finally, Covestor Ltd purchased a new stake in CDW in the 4th quarter worth about $118,000. 92.46% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CDW opened at $159.63 on Thursday. The business has a 50 day moving average of $167.64 and a 200 day moving average of $179.18. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.30 and a beta of 1.11. CDW Co. has a 1-year low of $154.13 and a 1-year high of $208.71. The company has a debt-to-equity ratio of 7.29, a current ratio of 1.26 and a quick ratio of 1.06.

CDW (NASDAQ:CDW – Get Rating) last released its earnings results on Wednesday, May 4th. The information technology services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.20. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.67 billion. CDW had a return on equity of 129.10% and a net margin of 4.59%. CDW’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 EPS. As a group, sell-side analysts anticipate that CDW Co. will post 9.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Wednesday, May 25th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 24th. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. CDW’s payout ratio is 27.62%.

Several research analysts have commented on CDW shares. Morgan Stanley upgraded CDW from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $201.00 to $214.00 in a research note on Thursday, March 31st. StockNews.com started coverage on CDW in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Stifel Nicolaus upgraded CDW from a “hold” rating to a “buy” rating and raised their target price for the stock from $200.00 to $210.00 in a research note on Thursday, April 14th. Finally, William Blair restated an “outperform” rating on shares of CDW in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.83.

In other news, insider Albert Joseph Miralles, Jr. bought 1,475 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average price of $169.90 per share, for a total transaction of $250,602.50. Following the transaction, the insider now directly owns 16,313 shares of the company’s stock, valued at approximately $2,771,578.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

CDW Profile (Get Rating)

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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

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