BDF Gestion Sells 5,066 Shares of CDW Co. (NASDAQ:CDW)

BDF Gestion cut its position in CDW Co. (NASDAQ:CDW) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,999 shares of the information technology services provider’s stock after selling 5,066 shares during the quarter. BDF Gestion’s holdings in CDW were worth $6,787,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Canoe Financial LP bought a new position in CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC lifted its stake in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new stake in CDW in the third quarter valued at approximately $43,000. Covestor Ltd increased its position in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in CDW during the 4th quarter worth approximately $69,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW opened at $195.53 on Thursday. The stock’s 50 day moving average is $180.92 and its 200-day moving average is $203.85. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 5.26 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. Sell-side analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.28%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley increased their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.33.

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.