Madison Asset Management LLC Has $206.46 Million Position in CDW Corporation $CDW

Madison Asset Management LLC lowered its stake in shares of CDW Corporation (NASDAQ:CDWFree Report) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,296,175 shares of the information technology services provider’s stock after selling 28,346 shares during the period. CDW accounts for 2.3% of Madison Asset Management LLC’s holdings, making the stock its 5th biggest position. Madison Asset Management LLC owned about 0.99% of CDW worth $206,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Border to Coast Pensions Partnership Ltd acquired a new position in CDW during the third quarter worth $29,649,000. Valley Wealth Managers Inc. raised its holdings in shares of CDW by 23.7% in the 3rd quarter. Valley Wealth Managers Inc. now owns 2,598 shares of the information technology services provider’s stock valued at $414,000 after purchasing an additional 497 shares during the period. New York State Common Retirement Fund lifted its stake in CDW by 11.0% in the 3rd quarter. New York State Common Retirement Fund now owns 76,699 shares of the information technology services provider’s stock valued at $12,217,000 after purchasing an additional 7,600 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in CDW by 8.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,904 shares of the information technology services provider’s stock worth $14,638,000 after purchasing an additional 7,548 shares during the period. Finally, Covestor Ltd increased its position in CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays decreased their target price on CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a research report on Tuesday, January 27th. Evercore restated an “outperform” rating and set a $180.00 target price on shares of CDW in a research note on Tuesday, January 20th. Raymond James Financial upgraded shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, November 25th. Finally, UBS Group cut their price objective on shares of CDW from $190.00 to $162.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.43.

Check Out Our Latest Research Report on CDW

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 7,400 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the sale, the insider owned 28,110 shares in the company, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $142.85 on Wednesday. The business has a fifty day moving average price of $136.47 and a two-hundred day moving average price of $150.39. The stock has a market capitalization of $18.60 billion, a PE ratio of 17.66, a P/E/G ratio of 1.99 and a beta of 1.08. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. CDW Corporation has a fifty-two week low of $123.08 and a fifty-two week high of $194.99.

CDW (NASDAQ:CDWGet Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.13. The company had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.33 billion. CDW had a return on equity of 50.66% and a net margin of 4.76%.CDW’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.48 earnings per share. As a group, equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be given a $0.63 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW’s payout ratio is presently 31.15%.

CDW Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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