KLP Kapitalforvaltning AS Has $14.13 Million Stake in CDW Corporation $CDW

KLP Kapitalforvaltning AS grew its stake in CDW Corporation (NASDAQ:CDW) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,100 shares of the information technology services provider’s stock after purchasing an additional 700 shares during the period. KLP Kapitalforvaltning AS owned about 0.06% of CDW worth $14,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GW&K Investment Management LLC boosted its position in shares of CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of CDW during the 1st quarter valued at about $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW during the 1st quarter valued at about $32,000. Stone House Investment Management LLC acquired a new stake in shares of CDW during the 1st quarter valued at about $34,000. Finally, Golden State Wealth Management LLC boosted its position in shares of CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 185 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CDW. Barclays decreased their target price on shares of CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Citigroup lifted their target price on shares of CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of CDW in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, UBS Group cut their price target on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Hold” and an average target price of $202.00.

CDW Trading Up 1.1%

Shares of CDW stock opened at $156.92 on Thursday. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $226.79. The company has a market capitalization of $20.57 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.58 and a beta of 1.01. The firm has a 50-day moving average price of $164.28 and a 200 day moving average price of $168.98. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.6%. CDW’s payout ratio is currently 31.06%.

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.