Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in CDW Corporation $CDW

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of CDW Corporation (NASDAQ:CDW) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,014 shares of the information technology services provider’s stock after selling 8,890 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in CDW were worth $11,307,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of CDW during the third quarter valued at about $26,000. Quent Capital LLC purchased a new stake in shares of CDW during the third quarter valued at about $57,000. eCIO Inc. purchased a new stake in shares of CDW during the fourth quarter valued at about $61,000. Covestor Ltd lifted 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 valued at $77,000 after buying an additional 226 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of CDW during the fourth quarter valued at about $110,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $136.03 on Friday. CDW Corporation has a twelve month low of $112.98 and a twelve month high of $192.30. The company’s 50 day moving average is $125.36 and its 200 day moving average is $135.13. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The company 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.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the company earned $2.48 EPS. CDW’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that CDW Corporation will post 10.01 EPS for the current year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on CDW shares. Barclays decreased their price target on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Morgan Stanley upped their price objective on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $170.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. UBS Group cut their price objective on shares of CDW from $190.00 to $162.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.43.

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.