CDW Corporation $CDW Shares Sold by BDF Gestion

Key Points

• BDF Gestion reduced its position in CDW Corporation by 69.1%, holding 12,043 shares valued at $2.15 million after selling over 26,000 shares in the second quarter.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, increased their stakes in CDW in the first quarter, with institutional ownership now at 93.15%.
• CDW has reported a strong earnings performance for the latest quarter, with earnings per share of $2.60, exceeding analyst expectations and showing a 10.2% year-over-year revenue growth.

BDF Gestion decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 69.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,043 shares of the information technology services provider's stock after selling 26,956 shares during the quarter. BDF Gestion's holdings in CDW were worth $2,151,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CDW. Envestnet Asset Management Inc. raised its holdings in CDW by 20.8% during the first 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% during the first 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% during the first 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% during the first 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 acquired a new stake in CDW during the first quarter worth approximately $212,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CDW. Barclays cut their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group cut their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Citigroup raised their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, CDW has an average rating of "Hold" and an average target price of $202.00.

CDW Price Performance

Shares of CDW stock traded down $0.35 on Tuesday, hitting $163.82. The company's stock had a trading volume of 706,755 shares, compared to its average volume of 1,331,756. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $229.02. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The firm has a fifty day moving average price of $169.08 and a 200-day moving average price of $169.70. The company has a market capitalization of $21.47 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW's 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.