Hsbc Holdings PLC Acquires 19,922 Shares of CDW Co. (NASDAQ:CDW)

Hsbc Holdings PLC increased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,098 shares of the information technology services provider's stock after acquiring an additional 19,922 shares during the period. Hsbc Holdings PLC owned about 0.23% of CDW worth $52,553,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CDW during the fourth quarter valued at about $144,826,000. Madison Investment Advisors LLC purchased a new stake in CDW in the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC lifted its position in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after buying an additional 683,446 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CDW. JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Citigroup lowered their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.38.

CDW Price Performance

NASDAQ CDW traded down $1.26 on Wednesday, reaching $158.71. 91,254 shares of the company's stock traded hands, compared to its average volume of 1,178,967. The stock has a market cap of $20.91 billion, a PE ratio of 19.91, a P/E/G ratio of 3.21 and a beta of 0.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. The stock has a 50-day simple moving average of $162.78 and a 200 day simple moving average of $180.22. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 31.37%.

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.