Handelsbanken Fonder AB Grows Holdings in CDW Corporation $CDW

Handelsbanken Fonder AB increased its position in shares of CDW Corporation (NASDAQ:CDW) by 45.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,545 shares of the information technology services provider’s stock after purchasing an additional 11,070 shares during the quarter. Handelsbanken Fonder AB’s holdings in CDW were worth $4,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in CDW during the third quarter worth about $26,000. Empowered Funds LLC boosted its holdings in CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares during the last quarter. Covestor Ltd boosted its holdings in CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after purchasing an additional 226 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in CDW by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock worth $6,546,000 after purchasing an additional 255 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in CDW by 30.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock worth $162,000 after purchasing an additional 277 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research report on Friday, April 24th. Barclays lowered their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Citigroup lowered their price objective on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CDW from $160.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $142.14.

CDW Stock Performance

Shares of CDW stock opened at $110.82 on Friday. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.45 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $186.70. The firm’s 50-day simple moving average is $120.92 and its two-hundred day simple moving average is $130.31.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that CDW Corporation will post 10 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, May 22nd. CDW’s dividend payout ratio is presently 30.66%.

CDW Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.