OMERS ADMINISTRATION Corp Takes Position in CDW Corporation $CDW

OMERS ADMINISTRATION Corp purchased a new position in shares of CDW Corporation (NASDAQ:CDW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 31,798 shares of the information technology services provider’s stock, valued at approximately $4,472,000.

Several other large investors have also bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in shares of CDW by 316.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock valued at $785,000 after purchasing an additional 3,719 shares during the period. Empowered Funds LLC boosted its position in shares of CDW by 1.2% in the 1st 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. California State Teachers Retirement System grew its stake in shares of CDW by 0.6% during the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock worth $40,309,000 after purchasing an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury increased its holdings in CDW by 17.7% in the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after purchasing an additional 6,143 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 target price on the stock in a research note on Wednesday, May 27th. UBS Group decreased their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $150.00 price target on CDW in a research note on Wednesday, May 6th. Barclays reduced 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 note on Thursday, May 7th. Finally, Citigroup boosted their price objective on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

CDW Trading Up 7.2%

NASDAQ CDW opened at $142.09 on Wednesday. The firm has a market cap of $17.76 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The stock’s 50-day moving average is $136.63 and its 200-day moving average is $128.48. CDW Corporation has a one year low of $97.12 and a one year high of $171.55.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the firm earned $2.60 EPS. CDW’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. CDW’s payout ratio is presently 30.29%.

About CDW

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.