CDW Co. (NASDAQ:CDW) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 241,781 shares of the information technology services provider’s stock after purchasing an additional 14,817 shares during the quarter. BNP Paribas Financial Markets’ holdings in CDW were worth $54,715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. LRI Investments LLC acquired a new stake in CDW during the 1st quarter worth about $68,000. Swedbank AB acquired a new stake in CDW during the 1st quarter worth about $13,095,000. Atria Investments Inc grew its position in CDW by 7.0% during the 1st quarter. Atria Investments Inc now owns 16,603 shares of the information technology services provider’s stock worth $4,247,000 after purchasing an additional 1,084 shares during the period. Cetera Investment Advisers boosted its stake in shares of CDW by 165.3% during the 1st quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider’s stock worth $2,472,000 after acquiring an additional 6,022 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of CDW by 27.7% during the 1st quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider’s stock worth $516,000 after acquiring an additional 437 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of 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 research note on Monday, October 28th. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Down 0.6 %

CDW opened at $176.75 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company’s 50 day simple moving average is $206.88 and its two-hundred day simple moving average is $217.52. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is 30.56%.

CDW Profile

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.