PGGM Investments Has $7.41 Million Holdings in CDW Co. (NASDAQ:CDW)

PGGM Investments trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,087 shares of the information technology services provider’s stock after selling 4,686 shares during the quarter. PGGM Investments’ holdings in CDW were worth $7,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CDW. Tsfg LLC acquired a new position in CDW during the 1st quarter worth about $26,000. Larson Financial Group LLC bought a new position in shares of CDW in the fourth quarter worth about $30,000. Rise Advisors LLC acquired a new position in shares of CDW during the first quarter worth approximately $34,000. ORG Partners LLC bought a new stake in shares of CDW during the second quarter valued at approximately $34,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of CDW in the fourth quarter valued at approximately $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 2.1 %

CDW stock traded up $4.52 during midday trading on Thursday, hitting $221.20. 269,461 shares of the stock were exchanged, compared to its average volume of 811,593. The stock has a market capitalization of $29.73 billion, a PE ratio of 27.05, a P/E/G ratio of 3.17 and a beta of 1.04. The company has a fifty day simple moving average of $223.35 and a two-hundred day simple moving average of $233.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the business posted $2.43 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that CDW Co. will post 9.6 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.12%. CDW’s dividend payout ratio is presently 30.96%.

Insider Buying and Selling

In related news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CDW. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Stifel Nicolaus raised their target price 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, Citigroup dropped their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

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.