M&T Bank Corp increased its stake in shares of CDW (NASDAQ:CDW) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,818 shares of the information technology services provider’s stock after purchasing an additional 15,249 shares during the period. M&T Bank Corp owned 0.07% of CDW worth $11,596,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Capital Asset Advisory Services LLC raised its holdings in shares of CDW by 3.4% in the first quarter. Capital Asset Advisory Services LLC now owns 3,310 shares of the information technology services provider’s stock worth $324,000 after acquiring an additional 109 shares during the last quarter. National Asset Management Inc. lifted its holdings in CDW by 5.0% in the 1st quarter. National Asset Management Inc. now owns 2,328 shares of the information technology services provider’s stock valued at $218,000 after purchasing an additional 110 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of CDW by 5.9% during the 1st quarter. EP Wealth Advisors LLC now owns 2,354 shares of the information technology services provider’s stock worth $220,000 after purchasing an additional 132 shares during the last quarter. Signaturefd LLC grew its holdings in shares of CDW by 20.3% during the first quarter. Signaturefd LLC now owns 989 shares of the information technology services provider’s stock worth $92,000 after buying an additional 167 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of CDW by 5.6% in the first quarter. Park Avenue Securities LLC now owns 3,148 shares of the information technology services provider’s stock valued at $294,000 after buying an additional 168 shares during the last quarter. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
CDW opened at $116.25 on Friday. CDW has a 52-week low of $73.39 and a 52-week high of $146.09. The company has a 50 day moving average of $115.38 and a two-hundred day moving average of $114.48. The company has a market cap of $16.54 billion, a P/E ratio of 22.66, a P/E/G ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 1.10, a current ratio of 1.28 and a debt-to-equity ratio of 4.01.
Several research firms have commented on CDW. Zacks Investment Research cut shares of CDW from a “hold” rating to a “sell” rating and set a $110.00 target price for the company. in a research note on Tuesday, May 12th. Cfra lowered their target price on shares of CDW from $139.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Morgan Stanley raised shares of CDW from an “underweight” rating to an “equal weight” rating and set a $120.00 price target for the company in a research report on Tuesday, June 9th. Credit Suisse Group decreased their price target on shares of CDW from $155.00 to $127.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Finally, Raymond James upgraded CDW from a “market perform” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Monday, June 29th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $125.88.
In other news, insider Douglas E. Eckrote sold 5,000 shares of CDW stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $106.97, for a total transaction of $534,850.00. Following the sale, the insider now owns 141,533 shares in the company, valued at $15,139,785.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew A. Troka sold 7,001 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $100.99, for a total transaction of $707,030.99. Following the transaction, the insider now directly owns 67,492 shares in the company, valued at $6,816,017.08. The disclosure for this sale can be found here. 1.33% of the stock is owned by corporate insiders.
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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