B. Metzler seel. Sohn & Co. Holding AG Makes New $16.88 Million Investment in CDW Co. (NASDAQ:CDW)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of CDW Co. (NASDAQ:CDW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 74,568 shares of the information technology services provider’s stock, valued at approximately $16,875,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.06% of CDW as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CDW. Orion Portfolio Solutions LLC increased its holdings in shares of CDW by 6.5% during the first quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock worth $1,582,000 after purchasing an additional 377 shares during the period. O Shaughnessy Asset Management LLC increased its stake in CDW by 6.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock valued at $6,119,000 after acquiring an additional 1,490 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in CDW by 12.9% in the first quarter. Lake Street Advisors Group LLC now owns 1,109 shares of the information technology services provider’s stock valued at $284,000 after acquiring an additional 127 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in CDW by 47.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,782 shares of the information technology services provider’s stock valued at $28,365,000 after acquiring an additional 35,613 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in CDW in the first quarter valued at approximately $344,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday. They issued a “buy” rating and a $230.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Performance

Shares of CDW stock opened at $178.07 on Tuesday. CDW Co. has a fifty-two week low of $175.94 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm has a market capitalization of $23.73 billion, a P/E ratio of 21.77, a P/E/G ratio of 4.96 and a beta of 1.05. The company’s 50 day moving average price is $212.76 and its two-hundred day moving average price is $219.65.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 EPS. On average, equities analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.32%.

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.