Findlay Park Partners LLP Purchases New Position in CDW Corporation $CDW

Findlay Park Partners LLP acquired a new stake in shares of CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 325,426 shares of the information technology services provider’s stock, valued at approximately $45,768,000. Findlay Park Partners LLP owned approximately 0.26% of CDW as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Korea Investment CORP bought a new position in CDW in the second quarter worth $1,916,000. EP Wealth Advisors LLC purchased a new position in CDW during the 2nd quarter valued at about $663,000. Bard Associates Inc. purchased a new position in CDW during the 2nd quarter valued at about $202,000. Callan Family Office LLC bought a new stake in CDW during the second quarter worth about $659,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in CDW during the second quarter worth about $28,000. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David W. Nelms bought 18,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.82% of the stock is owned by corporate insiders.

CDW Stock Up 2.8%

CDW stock opened at $137.25 on Friday. The stock 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 debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The business has a fifty day moving average price of $136.37 and a 200-day moving average price of $128.40.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.80 by $0.11. The company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.CDW’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. Equities analysts forecast that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The business 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. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. CDW’s dividend payout ratio is 30.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on CDW. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research report on Wednesday, May 27th. Morgan Stanley lifted their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Citigroup boosted 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. Raymond James Financial set a $150.00 price target on CDW in a report on Wednesday, May 6th. Finally, Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.