Two Sigma Securities LLC Acquires New Holdings in CDW Corporation $CDW

Key Points

• Two Sigma Securities acquired 9,253 CDW shares worth approximately $1.3 million in the second quarter. Institutional investors and hedge funds collectively own 93.15% of the company.
• CDW exceeded quarterly expectations, reporting $2.91 in earnings per share and $6.57 billion in revenue, with revenue up 10% year over year.
• CDW declared a quarterly dividend of $0.63 per share, equivalent to a $2.52 annualized payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $147.

Two Sigma Securities LLC bought a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,253 shares of the information technology services provider's stock, valued at approximately $1,301,000.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management lifted its stake in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock valued at $27,000 after buying an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of CDW in the second quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of CDW during the second quarter worth $28,000. Root Financial Partners LLC increased its position in shares of 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 acquiring an additional 93 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of CDW during the second quarter worth $51,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

CDW Stock Performance

Shares of CDW stock opened at $151.58 on Tuesday. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The company's fifty day simple moving average is $138.29 and its 200-day simple moving average is $128.62. The firm has a market cap of $18.95 billion, a PE ratio of 18.22, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the firm earned $2.60 earnings per share. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

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 $0.63 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. CDW's dividend payout ratio (DPR) is presently 30.29%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CDW shares. UBS Group cut their price objective on shares of CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Citigroup increased their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Morgan Stanley lifted their price target on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Barclays reduced their price objective on 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, Raymond James Financial set a $150.00 price objective on CDW in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold 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 $147.00.

About CDW

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.

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