Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in CDW Co. (NASDAQ:CDW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CDW Co. (NASDAQ:CDW - Free Report) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,728 shares of the information technology services provider's stock after acquiring an additional 2,533 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CDW were worth $6,207,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Tsfg LLC bought a new position in CDW in the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new position in shares of CDW in the 1st quarter valued at $34,000. ORG Partners LLC acquired a new stake in shares of CDW during the 2nd quarter valued at $34,000. Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter worth $40,000. Finally, Continuum Advisory LLC increased its holdings in CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock worth $52,000 after purchasing an additional 220 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. Barclays cut their price target on CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Northcoast Research raised shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price on the stock in a report on Friday, June 7th. 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. Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average price target of $254.63.

Insider Transactions at CDW

In related news, insider Christine A. Leahy acquired 1,200 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares of the company's stock, valued at $22,090,530. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of CDW 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 owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost 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 of the company's stock, valued at $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

CDW Trading Up 1.1 %

CDW stock traded up $2.52 during midday trading on Friday, hitting $225.64. The stock had a trading volume of 1,437,076 shares, compared to its average volume of 836,880. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. The firm has a market cap of $30.33 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. The business has a fifty day moving average price of $222.96 and a two-hundred day moving average price of $232.74. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that CDW Co. will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, August 26th. CDW's payout ratio is 30.96%.

CDW Profile

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.