782,147 Shares in CDW Corporation $CDW Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW) in the second quarter, HoldingsChannel reports. The institutional investor purchased 782,147 shares of the information technology services provider’s stock, valued at approximately $110,406,000.

A number of other institutional investors also recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp raised its holdings in shares of CDW by 316.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after buying an additional 3,719 shares in the last quarter. Empowered Funds LLC grew its position in CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after acquiring an additional 216 shares during the period. California State Teachers Retirement System grew its position in CDW by 0.6% in the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after acquiring an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after acquiring an additional 45,950 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in CDW by 17.7% during the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock worth $7,309,000 after acquiring an additional 6,143 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $142.09 on Wednesday. The business’s fifty day moving average is $136.63 and its two-hundred day moving average is $128.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The firm has a market cap of $17.76 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.74 and a beta of 0.96. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $171.55.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $2.60 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the transaction, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Barclays dropped their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a report on Wednesday, May 27th. Morgan Stanley boosted their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

CDW 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.