Hsbc Holdings PLC Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

Hsbc Holdings PLC grew its stake in shares of CDW Co. (NASDAQ:CDW) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 259,052 shares of the information technology services provider’s stock after buying an additional 10,892 shares during the period. Hsbc Holdings PLC owned 0.19% of CDW worth $58,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Tsfg LLC purchased a new position in CDW in the first quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in shares of CDW in the 1st quarter valued at $34,000. Quest Partners LLC purchased a new position in shares of CDW in the 2nd quarter valued at $35,000. ORG Partners LLC acquired a new position in shares of CDW during the 2nd quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in CDW during the 2nd quarter worth $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDW has been the topic of several research reports. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Friday, June 7th. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays reduced their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.63.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $227.87 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The business has a 50 day moving average price of $222.18 and a two-hundred day moving average price of $230.23. The firm has a market cap of $30.63 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04.

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.09%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW Profile

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.