Westpac Banking Corp boosted its stake in CDW Corp. (NASDAQ:CDW) by 140.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,190 shares of the company’s stock after buying an additional 7,118 shares during the period. Westpac Banking Corp’s holdings in CDW Corp. were worth $489,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. IFP Advisors Inc raised its position in CDW Corp. by 9.4% in the first quarter. IFP Advisors Inc now owns 2,819 shares of the company’s stock worth $117,000 after buying an additional 242 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in CDW Corp. by 6.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,814 shares of the company’s stock worth $138,000 after buying an additional 242 shares during the period. Public Employees Retirement Association of Colorado raised its position in CDW Corp. by 1.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 33,202 shares of the company’s stock worth $1,331,000 after buying an additional 448 shares during the period. Daiwa Securities Group Inc. raised its position in CDW Corp. by 14.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,550 shares of the company’s stock worth $142,000 after buying an additional 450 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in CDW Corp. by 4.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,863 shares of the company’s stock worth $395,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.
Shares of CDW Corp. (NASDAQ:CDW) opened at 45.47 on Thursday. The stock’s 50 day moving average price is $45.10 and its 200-day moving average price is $42.64. CDW Corp. has a 52-week low of $30.40 and a 52-week high of $47.50. The firm has a market cap of $7.43 billion, a PE ratio of 17.66 and a beta of 0.95.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.08. CDW Corp. had a return on equity of 46.02% and a net margin of 3.18%. The firm earned $3.66 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that CDW Corp. will post $3.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were issued a $0.1075 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.43 annualized dividend and a yield of 0.94%. CDW Corp.’s dividend payout ratio is currently 16.80%.
CDW has been the subject of a number of recent research reports. Zacks Investment Research upgraded CDW Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Barclays PLC reiterated an “overweight” rating and issued a $47.00 target price on shares of CDW Corp. in a report on Friday, July 1st. Raymond James Financial Inc. reiterated a “market perform” rating on shares of CDW Corp. in a report on Tuesday, August 2nd. Deutsche Bank AG lifted their target price on CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $48.00 target price (up from $46.00) on shares of CDW Corp. in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $46.09.
CDW Corp. Company Profile
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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