The Manufacturers Life Insurance Company Buys Shares of 114,838 CDW Corporation $CDW

The Manufacturers Life Insurance Company bought a new stake in CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 114,838 shares of the information technology services provider’s stock, valued at approximately $16,151,000. The Manufacturers Life Insurance Company owned approximately 0.09% of CDW at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of CDW during the second quarter worth $2,143,082,000. Pzena Investment Management LLC acquired a new stake in CDW during the second quarter worth about $371,135,000. Fenimore Asset Management Inc increased its holdings in shares of CDW by 0.8% during the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after buying an additional 9,485 shares during the last quarter. Deutsche Bank AG acquired a new stake in CDW during the second quarter worth $112,488,000. Finally, Marshall Wace LLP raised its holdings in CDW by 255.7% in the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after buying an additional 430,796 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. Raymond James Financial set a $150.00 price objective on CDW in a research note on Wednesday, May 6th. Finally, UBS Group cut their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus price target of $147.00.

CDW Trading Down 0.9%

NASDAQ CDW opened at $147.69 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.96 and a beta of 0.96. The firm has a 50 day simple moving average of $137.73 and a 200-day simple moving average of $128.66. CDW Corporation has a one year low of $97.12 and a one year high of $171.55.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm earned $2.60 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts anticipate that CDW Corporation will post 10.28 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

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.