Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in CDW Corporation $CDW

Mitsubishi UFJ Trust & Banking Corp grew its stake in CDW Corporation (NASDAQ:CDW) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,904 shares of the information technology services provider’s stock after purchasing an additional 7,548 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of CDW worth $14,638,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in CDW in the 3rd quarter worth about $26,000. Quent Capital LLC acquired a new position in shares of CDW during the third quarter valued at approximately $57,000. Covestor Ltd lifted its position in shares of CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after acquiring an additional 226 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of CDW by 12.1% in the second quarter. V Square Quantitative Management LLC now owns 1,423 shares of the information technology services provider’s stock worth $254,000 after acquiring an additional 154 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of CDW by 15.5% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock worth $255,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the transaction, the insider owned 28,110 shares of the company’s stock, valued at $4,108,838.70. This represents a 20.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

CDW Price Performance

Shares of CDW stock opened at $125.40 on Wednesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30. The firm’s 50-day moving average is $138.17 and its two-hundred day moving average is $153.58. CDW Corporation has a 12 month low of $124.00 and a 12 month high of $222.92. The company has a market capitalization of $16.33 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. Analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.0%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s payout ratio is 31.82%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. UBS Group decreased their price target on shares of CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $177.00 to $141.00 in a research note on Tuesday, January 20th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price on the stock in a research note on Tuesday, November 25th. Finally, Citigroup dropped their price target on CDW from $160.00 to $148.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $171.00.

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.