BDF Gestion Decreases Position in CDW Corporation $CDW

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 cut its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 69.1% during the second quarter, according to its most recent 13F filing with the Securities and 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Vanguard Group Inc. lifted its holdings in CDW by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after purchasing an additional 72,550 shares in the last quarter. Select Equity Group L.P. lifted its stake in CDW by 5.6% in the 1st quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider's stock worth $592,311,000 after purchasing an additional 195,511 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in CDW by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock worth $447,596,000 after purchasing an additional 378,841 shares in the last quarter. Invesco Ltd. lifted its position in CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock worth $396,157,000 after buying an additional 45,217 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in CDW by 444.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after buying an additional 1,332,454 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

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

CDW Price Performance

Shares of CDW opened at $161.22 on Friday. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86. The firm's 50 day moving average price is $169.35 and its 200 day moving average price is $169.73. 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 company has a market cap of $21.13 billion, a P/E ratio of 20.03, a PEG ratio of 2.70 and a beta of 0.98.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.6%. CDW's dividend payout ratio is currently 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.

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