New York State Common Retirement Fund Purchases 7,600 Shares of CDW Corporation $CDW

New York State Common Retirement Fund boosted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,699 shares of the information technology services provider’s stock after purchasing an additional 7,600 shares during the period. New York State Common Retirement Fund owned about 0.06% of CDW worth $12,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CDW. Root Financial Partners LLC acquired a new stake in CDW in the third quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of CDW in the third quarter worth about $57,000. Covestor Ltd boosted its stake in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of CDW by 15.5% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock valued at $255,000 after purchasing an additional 192 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC acquired a new position in CDW during the 3rd quarter worth approximately $290,000. Institutional investors own 93.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $126.83 on Tuesday. The company has a market capitalization of $16.51 billion, a PE ratio of 16.01, a P/E/G ratio of 1.66 and a beta of 1.08. CDW Corporation has a fifty-two week low of $123.08 and a fifty-two week high of $222.92. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The company has a 50 day simple moving average of $137.06 and a two-hundred day simple moving average of $152.13.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. Research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CDW. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of CDW in a research note on Tuesday, January 20th. Barclays lowered their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, November 25th. Citigroup reduced their price target on CDW from $160.00 to $148.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Finally, UBS Group cut their target price on shares of CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.00.

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.