M&T Bank Corp Has $3,509,000 Position in CDW Corp. (CDW)
M&T Bank Corp cut its stake in CDW Corp. (NASDAQ:CDW) by 15.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 76,753 shares of the company’s stock after selling 14,230 shares during the period. M&T Bank Corp’s holdings in CDW Corp. were worth $3,509,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Highland Capital Management LLC boosted its position in shares of CDW Corp. by 0.9% in the third quarter. Highland Capital Management LLC now owns 22,912 shares of the company’s stock valued at $1,048,000 after buying an additional 208 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of CDW Corp. by 6.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,814 shares of the company’s stock valued at $138,000 after buying an additional 242 shares in the last quarter. Capital One National Association boosted its position in shares of CDW Corp. by 0.7% in the third quarter. Capital One National Association now owns 36,985 shares of the company’s stock valued at $1,691,000 after buying an additional 243 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of CDW Corp. by 1.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,553 shares of the company’s stock valued at $986,000 after buying an additional 322 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of CDW Corp. by 10.6% in the second quarter. American International Group Inc. now owns 4,011 shares of the company’s stock valued at $161,000 after buying an additional 383 shares in the last quarter. 92.14% of the stock is owned by institutional investors.
CDW Corp. (NASDAQ:CDW) traded down 1.04% during midday trading on Wednesday, hitting $51.24. The stock had a trading volume of 923,360 shares. The firm has a market cap of $8.22 billion, a P/E ratio of 20.85 and a beta of 0.96. The stock has a 50-day moving average of $46.43 and a 200-day moving average of $44.05. CDW Corp. has a 52 week low of $30.40 and a 52 week high of $52.30.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. CDW Corp. had a return on equity of 50.73% and a net margin of 2.95%. The business earned $3.71 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts forecast that CDW Corp. will post $3.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This is a boost from CDW Corp.’s previous quarterly dividend of $0.11. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. CDW Corp.’s payout ratio is 26.23%.
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Several research analysts recently weighed in on the company. Zacks Investment Research cut CDW Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Deutsche Bank AG increased their price target on CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Robert W. Baird reiterated a “hold” rating on shares of CDW Corp. in a research report on Wednesday, November 2nd. Royal Bank Of Canada increased their price target on CDW Corp. from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, November 16th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $50.00 price objective on shares of CDW Corp. in a research note on Thursday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. CDW Corp. currently has an average rating of “Buy” and an average price target of $48.88.
In related news, insider Douglas E. Eckrote sold 80,000 shares of CDW Corp. stock in a transaction on Friday, November 4th. The stock was sold at an average price of $44.04, for a total transaction of $3,523,200.00. Following the completion of the sale, the insider now directly owns 179,089 shares of the company’s stock, valued at $7,887,079.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.
CDW Corp. Company Profile
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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