Sumitomo Mitsui DS Asset Management Company Ltd Buys 125,043 Shares of CDW Corporation $CDW

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of CDW Corporation (NASDAQ:CDW) by 725.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 142,283 shares of the information technology services provider’s stock after acquiring an additional 125,043 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CDW were worth $18,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. Prairie Advisory LLC lifted its holdings in CDW by 92.7% during the 3rd quarter. Prairie Advisory LLC now owns 6,452 shares of the information technology services provider’s stock worth $827,000 after buying an additional 3,103 shares in the last quarter. Grant Private Wealth Management Inc bought a new position in CDW in the 3rd quarter valued at $801,000. Brown Lisle Cummings Inc. boosted its position in CDW by 13,830.0% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 2,786 shares of the information technology services provider’s stock valued at $357,000 after buying an additional 2,766 shares during the last quarter. IFP Advisors Inc increased its stake in shares of CDW by 2,004.0% in the 3rd quarter. IFP Advisors Inc now owns 41,617 shares of the information technology services provider’s stock valued at $5,334,000 after buying an additional 39,639 shares during the period. Finally, Pension & Wealth Management Advisors Inc. increased its stake in shares of CDW by 23.8% in the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 1,005 shares of the information technology services provider’s stock valued at $129,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.5%

CDW opened at $154.99 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. The firm has a 50 day simple moving average of $143.43 and a 200 day simple moving average of $134.35. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $161.10.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the firm earned $2.60 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.6%. CDW’s payout ratio is presently 30.29%.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup upped their price target on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Barclays decreased their price target on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. Finally, Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.12.

About CDW

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.