CDW (NASDAQ:CDW) Shares Acquired by Metropolitan Life Insurance Co NY

Metropolitan Life Insurance Co NY lifted its stake in shares of CDW (NASDAQ:CDW) by 168.0% in the third quarter, Holdings Channel reports. The institutional investor owned 28,929 shares of the information technology services provider’s stock after buying an additional 18,134 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in CDW were worth $3,565,000 as of its most recent SEC filing.

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Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in CDW by 4,756.9% during the second quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock worth $90,707,000 after purchasing an additional 800,346 shares during the last quarter. AE Wealth Management LLC lifted its stake in CDW by 76.4% in the second quarter. AE Wealth Management LLC now owns 4,076 shares of the information technology services provider’s stock valued at $452,000 after buying an additional 1,765 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its stake in CDW by 4.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 13,856 shares of the information technology services provider’s stock valued at $1,538,000 after buying an additional 573 shares during the last quarter. Arizona State Retirement System lifted its stake in CDW by 36.1% in the second quarter. Arizona State Retirement System now owns 37,756 shares of the information technology services provider’s stock valued at $4,191,000 after buying an additional 10,018 shares during the last quarter. Finally, Strs Ohio lifted its stake in CDW by 12.3% in the second quarter. Strs Ohio now owns 21,021 shares of the information technology services provider’s stock valued at $2,333,000 after buying an additional 2,310 shares during the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the company. Morgan Stanley set a $126.00 target price on CDW and gave the company a “hold” rating in a research note on Friday, November 1st. BidaskClub upgraded CDW from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 2nd. JPMorgan Chase & Co. cut CDW from a “neutral” rating to an “underweight” rating and set a $116.00 target price on the stock. in a research note on Monday, August 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 target price on the stock in a research note on Tuesday, August 6th. Finally, ValuEngine cut CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $120.63.

In related news, insider Thomas E. Richards sold 58,333 shares of CDW stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $112.17, for a total transaction of $6,543,212.61. Following the transaction, the insider now directly owns 636,109 shares of the company’s stock, valued at $71,352,346.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert F. Kirby sold 1,300 shares of CDW stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $111.60, for a total value of $145,080.00. Following the transaction, the insider now directly owns 32,470 shares in the company, valued at $3,623,652. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,385 shares of company stock worth $21,846,450. Company insiders own 2.25% of the company’s stock.

Shares of NASDAQ CDW opened at $135.05 on Monday. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $138.88. The firm’s 50-day simple moving average is $130.42 and its 200 day simple moving average is $116.58. The company has a quick ratio of 1.14, a current ratio of 1.33 and a debt-to-equity ratio of 3.57. The stock has a market cap of $19.40 billion, a P/E ratio of 26.48, a P/E/G ratio of 1.80 and a beta of 1.07.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Thursday, October 31st. The information technology services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. CDW had a net margin of 4.04% and a return on equity of 91.07%. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts anticipate that CDW will post 5.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, November 22nd. CDW’s dividend payout ratio is currently 29.80%.

CDW Profile

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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Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW (NASDAQ:CDW).

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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