Findlay Park Partners LLP Invests $45.77 Million in CDW Corporation $CDW

Findlay Park Partners LLP acquired a new stake in shares of CDW Corporation (NASDAQ:CDW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 325,426 shares of the information technology services provider’s stock, valued at approximately $45,768,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of CDW by 20.5% during the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after acquiring an additional 48,547 shares during the period. Pzena Investment Management LLC bought a new stake in CDW during the 2nd quarter worth approximately $371,135,000. Fenimore Asset Management Inc lifted its holdings in CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after purchasing an additional 9,485 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in CDW during the first quarter valued at approximately $1,587,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of CDW by 35.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,926 shares of the information technology services provider’s stock worth $9,115,000 after purchasing an additional 17,541 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW opened at $137.25 on Friday. The business’s 50-day moving average is $136.37 and its 200 day moving average is $128.40. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The company has a market capitalization of $17.16 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.81 and a beta of 0.96. 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) last released its quarterly 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. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings upgraded CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Morgan Stanley upped their price objective on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Citigroup increased 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. Finally, JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insiders Place Their Bets

In related news, Director David W. Nelms purchased 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the transaction, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elizabeth H. Connelly sold 26,695 shares of the company’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 value of $3,673,765.90. Following the sale, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.82% of the company’s stock.

CDW Company Profile

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.