Candriam S.C.A. Decreases Holdings in CDW Corporation $CDW

Key Points

• Candriam S.C.A. has reduced its stake in CDW Corporation by 23.8%, holding 6,450 shares worth approximately $1.03 million after selling 2,013 shares in Q1.
• CDW reported $2.60 EPS for its recent quarter, surpassing estimates by $0.11, and revenue of $5.98 billion, up 10.2% year-over-year.
• The company declared a quarterly dividend of $0.625 per share, yielding 1.5%, with the payment scheduled for September 10th.

Candriam S.C.A. cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,450 shares of the information technology services provider's stock after selling 2,013 shares during the quarter. Candriam S.C.A.'s holdings in CDW were worth $1,034,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its stake in shares of CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter worth $30,000. Bayforest Capital Ltd bought a new stake in CDW during the first quarter worth $31,000. Pandora Wealth Inc. purchased a new position in CDW in the first quarter worth $32,000. Finally, Stone House Investment Management LLC bought a new position in CDW in the 1st quarter valued at $34,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of CDW traded down $1.46 during midday trading on Friday, hitting $164.41. 646,078 shares of the company traded hands, compared to its average volume of 1,319,646. The stock has a 50-day moving average of $173.55 and a 200-day moving average of $171.90. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. CDW Corporation has a one year low of $137.31 and a one year high of $230.86. The firm has a market cap of $21.55 billion, a P/E ratio of 20.45, a PEG ratio of 2.75 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued 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. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.CDW's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, sell-side analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About CDW

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.