Hsbc Holdings PLC Acquires 10,892 Shares of CDW Co. (NASDAQ:CDW)

Hsbc Holdings PLC boosted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and 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 quarter. Hsbc Holdings PLC owned approximately 0.19% of CDW worth $58,017,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tsfg LLC acquired a new position in CDW in the first quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of CDW during the 1st quarter valued at about $34,000. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $35,000. ORG Partners LLC bought a new stake in CDW in the second quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in CDW in the second quarter worth approximately $40,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Down 1.6 %

Shares of NASDAQ CDW traded down $3.64 during mid-day trading on Friday, reaching $224.23. 680,719 shares of the company's stock traded hands, compared to its average volume of 822,530. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The business has a 50-day simple moving average of $222.18 and a 200 day simple moving average of $230.23. The stock has a market cap of $30.14 billion, a P/E ratio of 28.45, a PEG ratio of 3.27 and a beta of 1.04. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, August 26th. CDW's payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Northcoast Research raised shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, Barclays dropped their price objective on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus target price of $254.63.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy purchased 1,200 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were 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. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 value of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, 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. Company 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.