Mitsubishi UFJ Trust & Banking Corp Sells 8,890 Shares of CDW Corporation $CDW

Key Points

• Mitsubishi UFJ Trust & Banking Corp sold 8,890 shares, reducing its CDW stake by 9.7% to 83,014 shares (around $11.31M) according to its latest 13F filing.
• CDW beat quarterly estimates, reporting $2.57 EPS vs. $2.44 expected and $5.51B in revenue (up 6.3% year-over-year), with a market cap of $17.41B and a PE of 16.8.
• Analyst views are mixed but net positive—the consensus is a "Moderate Buy" with a $160.43 target—while the stock trades near $136 and yields 1.9% from an annualized $2.52 dividend.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,014 shares of the information technology services provider's stock after selling 8,890 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of CDW worth $11,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CDW. Jones Financial Companies Lllp increased its position in CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider's stock valued at $785,000 after acquiring an additional 3,719 shares during the last quarter. Empowered Funds LLC increased its position in 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 acquiring an additional 216 shares during the last quarter. California State Teachers Retirement System increased its position in CDW by 0.6% during the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider's stock valued at $40,309,000 after acquiring an additional 1,242 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider's stock valued at $8,819,000 after acquiring an additional 45,950 shares during the last quarter. Finally, State of Tennessee Department of Treasury increased its position in CDW by 17.7% during the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider's stock valued at $7,309,000 after acquiring an additional 6,143 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of CDW from $148.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of CDW from $170.00 to $160.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Morgan Stanley raised their price target on shares of CDW from $141.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CDW in a research note on Friday, April 24th. Finally, Evercore reaffirmed an "outperform" rating and issued a $180.00 price target on shares of CDW in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.43.

CDW Stock Down 0.6%

NASDAQ:CDW opened at $136.03 on Friday. CDW Corporation has a 1-year low of $112.98 and a 1-year high of $192.30. The company has a 50-day moving average of $125.36 and a 200 day moving average of $135.13. The firm has a market cap of $17.41 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping 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 company had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the firm earned $2.48 earnings per share. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that CDW Corporation will post 10.01 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. CDW's dividend payout ratio is 31.15%.

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.

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