38,501 CDW Corporation $CDW Shares Purchased by SBI Securities Co. Ltd.

Key Points

• SBI Securities dramatically increased its CDW stake by purchasing 38,501 additional shares, bringing its holdings to 38,566 shares valued at approximately $4.94 million. Institutional investors collectively own 93.15% of CDW.
• Analysts maintain a generally positive outlook, with CDW receiving a consensus “Moderate Buy” rating and an average price target of $150.12.
• CDW exceeded quarterly earnings expectations, reporting $2.91 in adjusted EPS and $6.57 billion in revenue, while revenue rose 10% year over year. The company also declared a quarterly dividend of $0.63 per share, equating to a 1.5% annualized yield.

SBI Securities Co. Ltd. boosted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 59,232.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,566 shares of the information technology services provider's stock after buying an additional 38,501 shares during the quarter. SBI Securities Co. Ltd.'s holdings in CDW were worth $4,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of CDW during the 2nd quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC purchased a new stake in shares of CDW during the 2nd quarter worth approximately $371,135,000. Jupiter Topco LLC purchased a new stake in shares of CDW during the 2nd quarter worth approximately $300,073,000. Alyeska Investment Group L.P. boosted its stake in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider's stock worth $260,880,000 after acquiring an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of CDW in the 2nd quarter worth approximately $255,058,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Barclays decreased their target price on CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research report on Monday, September 21st. Finally, Citigroup boosted their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. One investment 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 stock. According to data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.12.

CDW Price Performance

Shares of NASDAQ CDW opened at $164.62 on Friday. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.07 and a beta of 0.95. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $165.56. The company's 50-day moving average price is $144.31 and its 200 day moving average price is $134.91. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $2.60 EPS. As a group, research analysts forecast that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were given a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio is currently 30.29%.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the firm's stock in a transaction that occurred on 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 directly owned 34,215 shares of the company's stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

CDW Profile

CDW Corporation NASDAQ: CDW is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.

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