CDW Corporation $CDW Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its holdings in shares of CDW Corporation (NASDAQ:CDW) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,296,175 shares of the information technology services provider’s stock after selling 28,346 shares during the quarter. CDW accounts for about 2.3% of Madison Asset Management LLC’s holdings, making the stock its 5th biggest holding. Madison Asset Management LLC’s holdings in CDW were worth $206,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Border to Coast Pensions Partnership Ltd acquired a new position in CDW during the third quarter worth about $29,649,000. Valley Wealth Managers Inc. grew its holdings in shares of CDW by 23.7% during 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 last quarter. New York State Common Retirement Fund grew its holdings in shares of CDW by 11.0% during 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 increased its position in CDW by 8.9% during the 3rd 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 in the last quarter. Finally, Covestor Ltd lifted its stake in CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,108,838.70. This represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by insiders.

CDW Price Performance

Shares of CDW opened at $142.85 on Wednesday. The business has a 50-day moving average of $136.47 and a 200-day moving average of $150.39. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08. CDW Corporation has a 1 year low of $123.08 and a 1 year high of $194.99.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. Citigroup boosted their target price on shares of CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Evercore reissued an “outperform” rating and set a $180.00 price objective on shares of CDW in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a report on Tuesday, January 27th. JPMorgan Chase & Co. dropped their target price on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Morgan Stanley boosted their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.43.

CDW 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.