Meeder Asset Management Inc. Sells 2,637 Shares of CDW (NASDAQ:CDW)

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Meeder Asset Management Inc. lowered its stake in shares of CDW (NASDAQ:CDW) by 17.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,375 shares of the information technology services provider’s stock after selling 2,637 shares during the quarter. Meeder Asset Management Inc.’s holdings in CDW were worth $1,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CDW. Nuveen Asset Management LLC boosted its stake in shares of CDW by 1,275.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,833,992 shares of the information technology services provider’s stock valued at $203,573,000 after purchasing an additional 1,700,702 shares in the last quarter. Invesco Ltd. boosted its stake in shares of CDW by 2,308.0% in the 2nd quarter. Invesco Ltd. now owns 913,715 shares of the information technology services provider’s stock valued at $101,423,000 after purchasing an additional 875,770 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of CDW by 4,756.9% in the 2nd quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock valued at $90,707,000 after purchasing an additional 800,346 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of CDW by 37.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,226,277 shares of the information technology services provider’s stock valued at $247,117,000 after purchasing an additional 604,539 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of CDW by 13,085.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 553,143 shares of the information technology services provider’s stock valued at $61,399,000 after purchasing an additional 548,948 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Morgan Stanley set a $126.00 price objective on CDW and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine cut CDW from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America initiated coverage on CDW in a research note on Tuesday, July 30th. They issued a “buy” rating and a $140.00 price target for the company. BidaskClub raised CDW from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 2nd. Finally, Credit Suisse Group upped their price target on CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. 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 company. CDW currently has an average rating of “Buy” and an average target price of $120.63.

NASDAQ:CDW traded up $0.59 during trading hours on Friday, reaching $133.52. 725,800 shares of the stock were exchanged, compared to its average volume of 1,011,129. CDW has a twelve month low of $74.32 and a twelve month high of $136.31. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.33 and a quick ratio of 1.14. The firm has a 50 day moving average of $124.55 and a 200 day moving average of $113.61. The stock has a market cap of $19.51 billion, a PE ratio of 26.18, a PEG ratio of 1.81 and a beta of 1.10.

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

In other CDW news, insider Collin B. Kebo sold 3,600 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $135.20, for a total value of $486,720.00. Following the transaction, the insider now directly owns 3,601 shares in the company, valued at approximately $486,855.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas E. Richards sold 62,222 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $113.66, for a total value of $7,072,152.52. Following the completion of the transaction, the insider now owns 639,998 shares in the company, valued at $72,742,172.68. The disclosure for this sale can be found here. Insiders have sold a total of 187,755 shares of company stock worth $21,978,265 in the last ninety days. Insiders own 2.25% of the company’s stock.

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

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