Barings LLC continued to hold its stake in CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the information technology services provider’s stock at the end of the 2nd quarter. Barings LLC’s holdings in CDW Corporation were worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Achmea Investment Management B.V. purchased a new stake in CDW Corporation in the 1st quarter worth approximately $226,000. United Services Automobile Association purchased a new stake in CDW Corporation in the 1st quarter worth approximately $239,000. Cambridge Investment Research Advisors Inc. boosted its position in CDW Corporation by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock worth $262,000 after purchasing an additional 58 shares in the last quarter. Financial Counselors Inc. boosted its position in CDW Corporation by 16.7% in the 2nd quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock worth $271,000 after purchasing an additional 621 shares in the last quarter. Finally, Globeflex Capital L P boosted its position in CDW Corporation by 23,333.3% in the 1st quarter. Globeflex Capital L P now owns 4,921 shares of the information technology services provider’s stock worth $284,000 after purchasing an additional 4,900 shares in the last quarter. Hedge funds and other institutional investors own 90.65% of the company’s stock.

CDW Corporation (NASDAQ CDW) opened at 68.95 on Friday. CDW Corporation has a 12 month low of $43.64 and a 12 month high of $71.53. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 26.18 and a beta of 1.08. The stock’s 50 day moving average price is $64.11 and its 200-day moving average price is $61.58.

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

CDW Corporation announced that its board has approved a share buyback program on Thursday, August 3rd that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, insider Thomas E. Richards sold 16,861 shares of CDW Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $58.73, for a total value of $990,246.53. Following the sale, the insider now directly owns 714,931 shares in the company, valued at $41,987,897.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas E. Richards sold 15,733 shares of CDW Corporation stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $63.49, for a total value of $998,888.17. Following the completion of the sale, the insider now owns 747,869 shares in the company, valued at $47,482,202.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,571 shares of company stock worth $6,888,441. Company insiders own 2.60% of the company’s stock.

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Several equities research analysts have commented on CDW shares. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $71.00 price objective on shares of CDW Corporation in a research report on Monday, September 18th. Zacks Investment Research upgraded CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, July 11th. J P Morgan Chase & Co restated a “neutral” rating and issued a $60.00 price objective (up previously from $59.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Finally, Barclays PLC lowered CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $66.95.

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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