Commerzbank Aktiengesellschaft FI Acquires New Shares in CDW Corporation $CDW

Key Points

• Commerzbank Aktiengesellschaft FI opened a new position in CDW during the first quarter, buying 13,112 shares worth about $1.59 million.
• Other institutions also increased their CDW holdings, and institutional investors and hedge funds now own 93.15% of the company’s stock.
• CDW reported solid quarterly results, with EPS of $2.28 matching estimates and revenue of $5.68 billion beating forecasts; analysts currently rate the stock Moderate Buy with a consensus target price of $146.88.

Commerzbank Aktiengesellschaft FI acquired a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,112 shares of the information technology services provider's stock, valued at approximately $1,587,000.

A number of other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in CDW by 20.5% in the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider's stock worth $38,812,000 after purchasing an additional 48,547 shares during the period. Local Pensions Partnership Investment Ltd grew its holdings in shares of CDW by 7.8% in the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider's stock valued at $33,940,000 after buying an additional 18,000 shares during the period. Fenimore Asset Management Inc grew its holdings in shares of CDW by 0.8% in the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider's stock valued at $156,707,000 after buying an additional 9,485 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of CDW by 35.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,926 shares of the information technology services provider's stock valued at $9,115,000 after buying an additional 17,541 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of CDW in the 4th quarter valued at $16,274,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analysts Set New Price Targets

CDW has been the topic of several recent analyst reports. UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Barclays lowered their price target on CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. Citigroup raised their price target on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Royal Bank Of Canada upgraded CDW to an "outperform" rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 price objective on CDW in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.88.

CDW Trading Down 0.2%

CDW opened at $129.72 on Wednesday. The stock has a market capitalization of $16.57 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.72 and a beta of 0.97. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $183.66. The firm's fifty day simple moving average is $127.50 and its 200 day simple moving average is $126.91. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts' consensus estimates of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the business earned $2.15 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, research analysts anticipate that CDW Corporation will post 10.21 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. CDW's dividend payout ratio is currently 30.66%.

Insider Buying and Selling at CDW

In other news, Director David W. Nelms acquired 18,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares in the company, valued at $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

CDW Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.