Arizona State Retirement System Acquires 15,066 Shares of CDW common stock (CDW)

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Arizona State Retirement System boosted its holdings in shares of CDW common stock (NASDAQ:CDW) by 62.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 39,230 shares of the information technology services provider’s stock after purchasing an additional 15,066 shares during the period. Arizona State Retirement System’s holdings in CDW common stock were worth $3,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in CDW common stock by 11.9% during the first quarter. BlackRock Inc. now owns 13,264,623 shares of the information technology services provider’s stock valued at $932,638,000 after acquiring an additional 1,411,886 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of CDW common stock by 6.0% in the first quarter. Neuberger Berman Group LLC now owns 4,777,370 shares of the information technology services provider’s stock valued at $335,897,000 after purchasing an additional 271,866 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of CDW common stock by 7.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,505,813 shares of the information technology services provider’s stock valued at $316,804,000 after purchasing an additional 315,961 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of CDW common stock by 3.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,201,118 shares of the information technology services provider’s stock valued at $295,381,000 after purchasing an additional 131,219 shares during the period. Finally, USS Investment Management Ltd raised its position in shares of CDW common stock by 4.1% in the first quarter. USS Investment Management Ltd now owns 2,578,340 shares of the information technology services provider’s stock valued at $183,823,000 after purchasing an additional 101,849 shares during the period. 89.17% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Christina M. Corley sold 14,900 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $83.89, for a total value of $1,249,961.00. Following the sale, the insider now owns 51,077 shares in the company, valued at $4,284,849.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christina V. Rother sold 4,000 shares of CDW common stock stock in a transaction on Monday, June 11th. The stock was sold at an average price of $84.67, for a total transaction of $338,680.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,702 shares of company stock worth $11,371,994. 2.60% of the stock is currently owned by corporate insiders.

Shares of CDW common stock stock opened at $87.63 on Friday. The firm has a market capitalization of $13.27 billion, a PE ratio of 22.58 and a beta of 1.03. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.16 and a current ratio of 1.36. CDW common stock has a 1 year low of $58.57 and a 1 year high of $88.81.

CDW common stock (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, August 2nd. The information technology services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.14. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.16 billion. CDW common stock had a net margin of 3.99% and a return on equity of 71.09%. CDW common stock’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. sell-side analysts anticipate that CDW common stock will post 4.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 24th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 23rd. This represents a $0.84 annualized dividend and a dividend yield of 0.96%. CDW common stock’s payout ratio is 21.65%.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $92.00 price target on shares of CDW common stock in a research report on Monday, July 23rd. Needham & Company LLC lifted their price target on shares of CDW common stock from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of CDW common stock from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Tuesday, May 8th. Northcoast Research reissued a “buy” rating and issued a $93.00 price target on shares of CDW common stock in a research report on Friday, July 20th. Finally, Raymond James raised shares of CDW common stock from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.00.

About CDW common stock

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW common stock (NASDAQ:CDW)

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