54,932 Shares in CDW Corporation $CDW Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in CDW Corporation (NASDAQ:CDW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,932 shares of the information technology services provider’s stock, valued at approximately $7,726,000.

Several other hedge funds have also added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after purchasing an additional 3,719 shares during the period. Empowered Funds LLC raised its position in shares of CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares during the period. California State Teachers Retirement System lifted its stake in shares of CDW by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock worth $40,309,000 after buying an additional 1,242 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after buying an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury grew its stake in CDW by 17.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after buying an additional 6,143 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 equities research analysts have recently issued reports on the company. UBS Group reduced their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Barclays dropped their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $150.00 price objective on CDW in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

CDW Stock Down 3.0%

NASDAQ CDW opened at $135.30 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The company has a 50 day moving average of $135.99 and a 200-day moving average of $128.13. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.83 and a beta of 0.96.

CDW (NASDAQ:CDW) last issued its quarterly earnings results 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. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business posted $2.60 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that CDW Corporation will post 10.28 earnings per share for the current fiscal 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 1.9%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is presently 30.29%.

Insider Buying and Selling at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David W. Nelms purchased 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the transaction, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.82% of the company’s stock.

CDW Company 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.