637,579 Shares in CDW Corporation $CDW Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in CDW Corporation (NASDAQ:CDW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 637,579 shares of the information technology services provider’s stock, valued at approximately $89,669,000.

Several other large investors have also bought and sold shares of CDW. The Manufacturers Life Insurance Company bought a new stake in shares of CDW in the 2nd quarter worth $16,151,000. Broad Run Investment Management LLC bought a new position in shares of CDW during the second quarter valued at about $17,483,000. Wishbone Management LP bought a new position in shares of CDW during the second quarter valued at about $28,128,000,000. Cibc World Market Inc. purchased a new position in CDW during the second quarter worth about $273,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in CDW during the second quarter worth about $4,472,000. 93.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’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 transaction of $3,673,765.90. Following the completion of the sale, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

CDW Price Performance

Shares of NASDAQ:CDW opened at $148.97 on Friday. The company has a market capitalization of $18.62 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company’s 50-day moving average is $137.34 and its 200 day moving average is $128.53. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 earnings per share. On average, equities research analysts forecast that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio is currently 30.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Citigroup boosted their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley upped their target price on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Barclays decreased their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.