Deutsche Bank AG Buys 189,963 Shares of CDW Co. (NASDAQ:CDW)

Deutsche Bank AG increased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535,207 shares of the information technology services provider's stock after purchasing an additional 189,963 shares during the quarter. Deutsche Bank AG owned 0.40% of CDW worth $93,147,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDW. EP Wealth Advisors LLC raised its holdings in shares of CDW by 6.1% during the 4th quarter. EP Wealth Advisors LLC now owns 5,899 shares of the information technology services provider's stock worth $1,027,000 after buying an additional 339 shares in the last quarter. Centiva Capital LP raised its stake in CDW by 563.8% during the fourth quarter. Centiva Capital LP now owns 13,111 shares of the information technology services provider's stock worth $2,282,000 after acquiring an additional 11,136 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of CDW by 48.3% in the fourth quarter. Captrust Financial Advisors now owns 16,887 shares of the information technology services provider's stock worth $2,939,000 after acquiring an additional 5,500 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of CDW in the 4th quarter valued at approximately $218,000. Finally, BLI Banque de Luxembourg Investments bought a new stake in shares of CDW during the 4th quarter valued at approximately $12,740,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $178.94 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91. The company's fifty day simple moving average is $161.13 and its 200 day simple moving average is $177.13. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a $0.625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW's dividend payout ratio is currently 30.98%.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now directly owns 144,931 shares of the company's stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. UBS Group dropped their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $216.38.

CDW Company Profile

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.

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