AG2R LA Mondiale Gestion D Actifs Acquires Shares of 6,001 CDW Corporation $CDW

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $962,000 in 6,001 shares of CDW Corporation during the first quarter, as reported in their recent SEC filing.
• CDW's quarterly earnings report revealed an EPS of $2.60, surpassing analysts' expectations, with revenue reaching $5.98 billion, a 10.2% increase year-over-year.
• The company declared a quarterly dividend of $0.625 per share, reflecting an annualized basis dividend of $2.50 and a yield of 1.5%.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,001 shares of the information technology services provider's stock, valued at approximately $962,000.

Several other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock worth $33,255,000 after purchasing an additional 35,737 shares in the last quarter. Unison Asset Management LLC raised its holdings in CDW by 9.4% in the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after purchasing an additional 3,657 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CDW by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock worth $963,000 after purchasing an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in CDW by 8.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock worth $3,204,000 after purchasing an additional 1,604 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in CDW in the 1st quarter worth $212,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDW. Barclays decreased their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Citigroup increased their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group decreased their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $202.00.

CDW Price Performance

Shares of CDW stock traded down $0.00 on Friday, hitting $162.87. 358,294 shares of the company traded hands, compared to its average volume of 1,319,934. The stock has a market capitalization of $21.35 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.78 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $230.86. The business has a 50-day simple moving average of $169.67 and a 200 day simple moving average of $169.80.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. Research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. CDW's dividend payout ratio is presently 31.06%.

CDW Company 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.