Amundi Has $125.68 Million Stock Position in CDW Corporation $CDW

Key Points

• Amundi has reduced its stake in CDW Corporation by 24%, selling 261,217 shares, which left it with approximately 0.63% ownership worth $125.7 million at the end of the last quarter.
• CDW reported a quarterly earnings per share (EPS) of $2.60, surpassing estimates, with revenue of $5.98 billion, marking a year-over-year growth of 10.2%.
• The company plans to pay a quarterly dividend of $0.625 per share on September 10th, yielding an annualized dividend of $2.50 and a yield of 1.5%.

Amundi cut its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 24.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 829,141 shares of the information technology services provider's stock after selling 261,217 shares during the period. Amundi owned approximately 0.63% of CDW worth $125,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. Envestnet Asset Management Inc. boosted its position in CDW by 20.8% during 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 acquiring an additional 35,737 shares during the period. Unison Asset Management LLC grew its position 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 valued at $6,339,000 after purchasing an additional 3,657 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 valued at $963,000 after purchasing an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake 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 valued at $3,204,000 after buying an additional 1,604 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in CDW in the 1st quarter valued at approximately $212,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded down $5.04 during trading hours on Thursday, reaching $165.73. 2,039,802 shares of the company were exchanged, compared to its average volume of 1,127,281. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The stock has a 50-day moving average of $171.21 and a 200 day moving average of $170.28. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.84 and a beta of 0.98.

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. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDW. UBS Group decreased their target price 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. 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 note on Thursday, August 7th. 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, JPMorgan Chase & Co. lifted their price target on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $202.00.

CDW 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.