Commerzbank Aktiengesellschaft FI Invests $1.59 Million in CDW Corporation $CDW

Commerzbank Aktiengesellschaft FI bought a new position in shares of CDW Corporation (NASDAQ:CDW) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 13,112 shares of the information technology services provider’s stock, valued at approximately $1,587,000.

A number of other hedge funds have also added to or reduced their stakes in CDW. Hollencrest Capital Management grew its position in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Root Financial Partners LLC lifted its position in CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares in the last quarter. eCIO Inc. bought a new stake in CDW during the 4th quarter worth about $61,000. Covestor Ltd boosted its stake in shares of CDW by 53.4% during the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after buying an additional 258 shares during the last quarter. Finally, American National Bank & Trust acquired a new position in shares of CDW during the 4th quarter worth about $110,000. Institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

In other CDW news, Director David W. Nelms acquired 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the transaction, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This represents a 54.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

CDW Stock Down 0.2%

CDW stock opened at $129.72 on Wednesday. The firm has a market capitalization of $16.57 billion, a PE ratio of 15.78, a P/E/G ratio of 1.72 and a beta of 0.97. The company’s 50-day moving average is $127.50 and its 200-day moving average is $126.91. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $183.66. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the business posted $2.15 EPS. CDW’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that CDW Corporation will post 10.21 earnings per share for the current year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CDW. Barclays lowered their target price on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. UBS Group lowered their price target on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley upgraded CDW from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $142.00 to $170.00 in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.88.

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.