Two Sigma Securities LLC Buys New Shares in CDW Corporation $CDW

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

A number of other large investors have also recently added to or reduced their stakes in CDW. Alyeska Investment Group L.P. grew its position in shares of CDW by 197.1% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after acquiring an additional 1,230,517 shares during the period. Flputnam Investment Management Co. raised its holdings in shares of CDW by 9.8% in the 2nd quarter. Flputnam Investment Management Co. now owns 1,912 shares of the information technology services provider’s stock valued at $269,000 after purchasing an additional 170 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CDW by 3.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,348,786 shares of the information technology services provider’s stock valued at $189,693,000 after purchasing an additional 39,044 shares during the period. New Mexico Educational Retirement Board lifted its stake in CDW by 6.6% in the 2nd quarter. New Mexico Educational Retirement Board now owns 6,450 shares of the information technology services provider’s stock valued at $907,000 after purchasing an additional 400 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its stake in CDW by 6.8% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,848 shares of the information technology services provider’s stock valued at $541,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $151.58 on Tuesday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $171.55. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The company’s 50 day simple moving average is $138.29 and its 200 day simple moving average is $128.62.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 earnings per share. As a group, research analysts predict that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is currently 30.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDW. Barclays reduced their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $150.00 price objective on CDW in a research report on Wednesday, May 6th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. UBS Group decreased their target price on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Morgan Stanley increased 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. One 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 stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Buying and Selling at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’s 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 directly owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

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.