Amundi Sells 259,463 Shares of CDW Corporation $CDW

Amundi decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 49.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,264 shares of the information technology services provider's stock after selling 259,463 shares during the period. Amundi owned about 0.22% of CDW worth $38,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CDW. Hollencrest Capital Management increased its position in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 200 shares during the period. Allied Private Wealth LLC purchased a new stake in shares of CDW in the second quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of CDW in the 2nd quarter worth $28,000. Root Financial Partners LLC lifted its stake in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 93 shares during the period. Finally, Continuum Advisory LLC bought a new position in shares of CDW during the second quarter valued at approximately $43,000. 93.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction 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 $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

CDW Stock Up 0.2%

CDW stock opened at $142.60 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $171.55. The stock has a market capitalization of $17.83 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.87 and a beta of 0.95. The firm has a 50 day moving average of $140.55 and a 200 day moving average of $129.84.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the business posted $2.60 EPS. The firm's quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW's dividend payout ratio is 30.29%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDW. JPMorgan Chase & Co. raised CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings raised shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. Citigroup increased their price target on shares of CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Barclays raised their price target on shares of CDW from $123.00 to $150.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a research report 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 company's stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $150.38.

CDW Profile

CDW Corporation NASDAQ: CDW is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.

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