Sumitomo Mitsui DS Asset Management Company Ltd Has $3.31 Million Stock Position in CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in CDW Co. (NASDAQ:CDW) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,620 shares of the information technology services provider’s stock after purchasing an additional 126 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CDW were worth $3,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after buying an additional 30,012 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of CDW during the 1st quarter valued at approximately $1,403,000. Mediolanum International Funds Ltd bought a new stake in shares of CDW during the 1st quarter valued at approximately $2,461,000. Meeder Asset Management Inc. increased its position in CDW by 33,447.6% during the 1st quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider’s stock worth $1,802,000 after purchasing an additional 7,024 shares in the last quarter. Finally, Norden Group LLC lifted its stake in CDW by 1,675.6% in the 1st quarter. Norden Group LLC now owns 41,976 shares of the information technology services provider’s stock valued at $10,736,000 after purchasing an additional 39,612 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.3 %

NASDAQ CDW opened at $218.31 on Monday. The firm has a market capitalization of $29.34 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The business’s 50-day moving average price is $221.46 and its two-hundred day moving average price is $225.96. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 earnings per share. On average, analysts expect that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.14%. CDW’s payout ratio is 30.96%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CDW shares. Barclays lowered their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.00.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

About CDW

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.