CDW Co. (NASDAQ:CDW) Stock Position Decreased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its position in CDW Co. (NASDAQ:CDW) by 8.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 83,123 shares of the information technology services provider’s stock after selling 8,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in CDW were worth $21,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after purchasing an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of CDW by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after acquiring an additional 27,753 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after acquiring an additional 51,450 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after acquiring an additional 33,235 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of CDW by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock worth $186,878,000 after acquiring an additional 3,082 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced 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 upped their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.11.

CDW Price Performance

CDW stock traded down $4.86 on Friday, hitting $228.84. 645,257 shares of the company’s stock traded hands, compared to its average volume of 1,016,627. CDW Co. has a 1-year low of $184.99 and a 1-year high of $263.37. The stock has a fifty day moving average of $225.62 and a 200-day moving average of $233.72. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 28.57, a P/E/G ratio of 3.37 and a beta of 1.04.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. On average, analysts forecast that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. CDW’s dividend payout ratio is currently 30.96%.

Insider Activity

In other news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

About CDW

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.