Hsbc Holdings PLC Has $52.52 Million Stake in CDW Corporation $CDW

Key Points

• Hsbc Holdings PLC increased its stake in CDW Corporation by 8.7%, now owning approximately 0.25% of the company with a total value of $52.52 million.
• Institutional investors dominate CDW's ownership, holding 93.15% of its stock, indicating strong institutional interest in the company.
• CDW reported a 10.2% revenue increase year-over-year for the quarter, achieving $5.98 billion in revenue and earnings per share of $2.60, surpassing estimates.

Hsbc Holdings PLC lifted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,252 shares of the information technology services provider's stock after purchasing an additional 26,154 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of CDW worth $52,520,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CDW. D. E. Shaw & Co. Inc. lifted its position in shares of CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after purchasing an additional 1,823,788 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after purchasing an additional 1,372,874 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of CDW during the fourth quarter worth approximately $105,705,000. Manning & Napier Advisors LLC acquired a new position in CDW in the first quarter valued at approximately $74,908,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after buying an additional 378,841 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CDW. Barclays cut their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, UBS Group decreased their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $202.00.

CDW Price Performance

Shares of CDW stock opened at $164.18 on Friday. The company has a 50-day simple moving average of $174.06 and a two-hundred day simple moving average of $173.01. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be given a $0.625 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's payout ratio is presently 31.06%.

CDW Company 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.

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