B. Metzler seel. Sohn & Co. AG Invests $6.37 Million in CDW Corporation $CDW

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 45,306 CDW shares worth approximately $6.37 million during the second quarter. Institutional investors collectively own 93.15% of the company.
• CDW exceeded quarterly expectations, reporting $2.91 in earnings per share versus the $2.80 consensus estimate and $6.57 billion in revenue, up 10% year over year.
• CDW declared a quarterly dividend of $0.63 per share, representing an annualized payout of $2.52 and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus rating with a $147 average price target.

B. Metzler seel. Sohn & Co. AG bought a new position in CDW Corporation (NASDAQ:CDW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,306 shares of the information technology services provider's stock, valued at approximately $6,372,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of CDW in the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $371,135,000. Deutsche Bank AG bought a new stake in shares of CDW during the 2nd quarter worth approximately $112,488,000. Pacer Advisors Inc. lifted its holdings in CDW by 5,081.1% during the 1st quarter. Pacer Advisors Inc. now owns 549,247 shares of the information technology services provider's stock valued at $66,470,000 after buying an additional 538,646 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider's stock worth $95,448,000 after purchasing an additional 430,796 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Trading Up 2.8%

CDW stock opened at $137.25 on Friday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $171.55. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The firm's 50 day moving average price is $136.37 and its two-hundred day moving average price is $128.40.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.CDW's revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. On average, research analysts predict that CDW Corporation will post 10.28 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. CDW's dividend payout ratio is 30.29%.

Insider Activity at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the transaction, the insider owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David W. Nelms acquired 18,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director directly owned 51,025 shares of the company's stock, valued at $5,685,715.75. The trade was a 54.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CDW. Royal Bank Of Canada raised shares of CDW to an "outperform" rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Raymond James Financial set a $150.00 price objective on CDW in a research report on Wednesday, May 6th. Barclays lowered their target price on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 7th. Morgan Stanley lifted their target price on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

About CDW

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.

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