BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Holdings in CDW Corporation $CDW

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in CDW Corporation by 365.3% in the first quarter, owning approximately 0.05% of the company's stock valued at $10.84 million.
• CDW reported a 10.2% increase in revenue year-over-year, reaching $5.98 billion for the quarter, and surpassed earnings estimates with an EPS of $2.60.
• The company announced a quarterly dividend of $0.625 per share, with a yield of 1.5%, payable on September 10th to shareholders of record on August 25th.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 365.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,632 shares of the information technology services provider's stock after acquiring an additional 53,098 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.05% of CDW worth $10,838,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. increased its position in CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock valued at $352,411,000 after buying an additional 1,823,788 shares in the last quarter. Alyeska Investment Group L.P. increased its position in CDW by 17,349.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock valued at $240,312,000 after buying an additional 1,372,874 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in CDW in the 4th quarter valued at about $105,705,000. Manning & Napier Advisors LLC bought a new stake in CDW in the 1st quarter valued at about $74,908,000. Finally, Massachusetts Financial Services Co. MA increased its position 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 valued at $447,596,000 after buying an additional 378,841 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

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

CDW Stock Down 0.4%

NASDAQ CDW traded down $0.67 on Wednesday, reaching $166.91. The company had a trading volume of 947,859 shares, compared to its average volume of 1,225,552. The stock has a market capitalization of $21.88 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.78 and a beta of 0.95. The company's fifty day moving average is $174.27 and its 200 day moving average is $173.25. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $231.38. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) 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.