Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CDW Co. (NASDAQ:CDW) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 14,494 shares of the information technology services provider’s stock after buying an additional 313 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CDW were worth $3,244,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CDW. Vanguard Group Inc. increased its holdings in shares of CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Wellington Management Group LLP grew its position in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after purchasing an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in CDW by 3.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after buying an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of CDW by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after buying an additional 33,235 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Up 1.1 %

Shares of NASDAQ CDW opened at $225.64 on Friday. The stock has a market capitalization of $30.33 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 3.17 and a beta of 1.04. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. The firm’s 50-day moving average price is $222.76 and its 200-day moving average price is $232.62.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $2.43 EPS. CDW’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that CDW Co. will post 9.6 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be paid a $0.62 dividend. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.10%. CDW’s payout ratio is 30.96%.

Insider Activity

In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDW. Barclays decreased their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $254.63.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.