318,903 Shares in CDW Corporation $CDW Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CDW Corporation (NASDAQ:CDW) during the second quarter, Holdings Channel reports. The firm bought 318,903 shares of the information technology services provider’s stock, valued at approximately $44,850,000.

Several other institutional investors have also recently bought and sold shares of CDW. Hollencrest Capital Management lifted its position in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of CDW in the second quarter valued at about $28,000. Root Financial Partners LLC increased its stake in shares of CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Covestor Ltd increased its stake in shares of CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 258 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of CDW by 38.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 254 shares during the period. Institutional investors own 93.15% of the company’s stock.

Insider Activity at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Nelms acquired 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the transaction, the director 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 Stock Performance

NASDAQ:CDW opened at $137.20 on Thursday. The firm’s 50-day moving average is $136.18 and its 200-day moving average is $128.28. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.78 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $171.55.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Equities research analysts anticipate that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s dividend payout ratio is 30.29%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CDW. UBS Group decreased their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citigroup lifted their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Barclays reduced their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.