New York State Common Retirement Fund Buys 7,600 Shares of CDW Corporation $CDW

New York State Common Retirement Fund boosted its position in CDW Corporation (NASDAQ:CDW) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,699 shares of the information technology services provider’s stock after buying an additional 7,600 shares during the period. New York State Common Retirement Fund’s holdings in CDW were worth $12,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of CDW during the third quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of CDW by 15.5% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock valued at $255,000 after buying an additional 192 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of CDW by 1.2% during 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 buying an additional 216 shares during the last quarter. Covestor Ltd increased its position in shares of 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 acquiring an additional 226 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in shares of CDW by 1.8% in the 3rd quarter. Hennessy Advisors Inc. now owns 15,003 shares of the information technology services provider’s stock worth $2,390,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ:CDW opened at $126.83 on Tuesday. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.66 and a beta of 1.08. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The stock has a fifty day moving average of $137.06 and a 200 day moving average of $152.13. CDW Corporation has a 52-week low of $123.08 and a 52-week high of $222.92.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. On average, research analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a report on Tuesday, November 25th. Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $177.00 to $141.00 in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research note on Tuesday, January 27th. Barclays decreased their price objective on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of CDW in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.00.

Insider Activity

In other news, insider Sona Chawla sold 7,400 shares of CDW 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 completion of the sale, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. The trade was a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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.