First Quadrant L P CA Grows Position in CDW Corporation (CDW)

First Quadrant L P CA increased its holdings in shares of CDW Corporation (NASDAQ:CDW) by 30.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,710 shares of the information technology services provider’s stock after acquiring an additional 66,194 shares during the quarter. First Quadrant L P CA owned approximately 0.18% of CDW Corporation worth $18,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alps Advisors Inc. raised its stake in CDW Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,059 shares of the information technology services provider’s stock worth $504,000 after acquiring an additional 21 shares during the period. Smithfield Trust Co. raised its stake in CDW Corporation by 6.6% during the second quarter. Smithfield Trust Co. now owns 4,863 shares of the information technology services provider’s stock worth $304,000 after acquiring an additional 303 shares during the period. Toronto Dominion Bank raised its stake in CDW Corporation by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 392 shares during the period. Waverton Investment Management Ltd raised its stake in CDW Corporation by 3.8% during the second quarter. Waverton Investment Management Ltd now owns 12,404 shares of the information technology services provider’s stock worth $776,000 after acquiring an additional 454 shares during the period. Finally, Financial Counselors Inc. raised its stake in CDW Corporation by 16.7% during the second quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 621 shares during the period. Hedge funds and other institutional investors own 90.50% of the company’s stock.

CDW has been the topic of several research reports. Zacks Investment Research lowered shares of CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Raymond James Financial, Inc. lowered shares of CDW Corporation from a “market perform” rating to an “underperform” rating in a research note on Friday, October 13th. BidaskClub upgraded shares of CDW Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays PLC lowered shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price target on the stock. in a research note on Monday, July 24th. Finally, Robert W. Baird set a $71.00 price target on shares of CDW Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $66.95.

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In other CDW Corporation news, insider Christina M. Corley sold 4,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.95, for a total value of $271,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christine A. Leahy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $69.94, for a total transaction of $839,280.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,341 shares of company stock worth $7,986,401. Company insiders own 2.60% of the company’s stock.

Shares of CDW Corporation (NASDAQ:CDW) traded down 0.80% during midday trading on Monday, hitting $69.04. 28,852 shares of the company’s stock traded hands. CDW Corporation has a 1-year low of $43.64 and a 1-year high of $71.53. The company has a 50 day moving average price of $66.36 and a 200 day moving average price of $62.49. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 26.21 and a beta of 1.08.

CDW Corporation (NASDAQ:CDW) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Equities analysts anticipate that CDW Corporation will post $3.83 earnings per share for the current year.

CDW Corporation declared that its Board of Directors has authorized a share buyback program on Thursday, August 3rd that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

CDW Corporation Profile

CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.

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Institutional Ownership by Quarter for CDW Corporation (NASDAQ:CDW)

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