IFM Investors Pty Ltd Has $6.46 Million Position in CDW Co. (NASDAQ:CDW)

IFM Investors Pty Ltd grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,527 shares of the information technology services provider’s stock after acquiring an additional 871 shares during the period. IFM Investors Pty Ltd’s holdings in CDW were worth $6,456,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Riverwater Partners LLC grew its stake in shares of CDW by 49.1% in the 3rd quarter. Riverwater Partners LLC now owns 1,439 shares of the information technology services provider’s stock valued at $316,000 after buying an additional 474 shares during the period. Brighton Jones LLC acquired a new stake in shares of CDW in the 3rd quarter valued at about $209,000. International Assets Investment Management LLC acquired a new stake in shares of CDW in the 3rd quarter valued at about $174,040,000. Private Advisor Group LLC grew its stake in shares of CDW by 10.7% in the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock valued at $839,000 after buying an additional 359 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in CDW by 184.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock valued at $4,854,000 after acquiring an additional 13,902 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup cut shares of 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 report on Tuesday, October 1st. Stifel Nicolaus lifted 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 reduced their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Insider Activity at CDW

In other 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, with a total value of $259,380.00. Following the completion of the transaction, the insider now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

CDW Price Performance

CDW stock opened at $217.01 on Friday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The firm has a 50-day moving average of $221.50 and a 200 day moving average of $224.90. The company has a market cap of $29.17 billion, a P/E ratio of 27.09, a PEG ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW 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.