Hsbc Holdings PLC Buys Shares of 782,147 CDW Corporation $CDW

Hsbc Holdings PLC purchased a new position in CDW Corporation (NASDAQ:CDW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 782,147 shares of the information technology services provider’s stock, valued at approximately $110,406,000. Hsbc Holdings PLC owned about 0.63% of CDW at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Hollencrest Capital Management increased its holdings in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in CDW in the 2nd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. bought a new stake in CDW during the second quarter worth approximately $28,000. Root Financial Partners LLC boosted its position in CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in CDW during the second quarter valued at approximately $51,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price target on the stock in a research report on Wednesday, May 27th. Citigroup upped their price objective on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. UBS Group dropped their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays cut 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. Finally, Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

CDW Stock Up 7.2%

Shares of CDW stock opened at $142.09 on Wednesday. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The firm has a market cap of $17.76 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The stock has a 50 day moving average of $136.63 and a 200-day moving average of $128.48.

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, topping the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $2.60 earnings per share. CDW’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post 10.28 EPS for the current year.

CDW Announces Dividend

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

Insider Activity at CDW

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

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.