BNP Paribas Financial Markets Has $65.97 Million Stock Position in CDW Corporation $CDW

BNP Paribas Financial Markets lifted its stake in shares of CDW Corporation (NASDAQ:CDW) by 31.1% during the first quarter, Holdings Channel.com reports. The firm owned 411,629 shares of the information technology services provider’s stock after acquiring an additional 97,532 shares during the period. BNP Paribas Financial Markets’ holdings in CDW were worth $65,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Vestcor Inc raised its stake in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider’s stock worth $652,000 after buying an additional 71 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of CDW by 30.3% during the first quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 72 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Benin Management CORP raised its position in shares of CDW by 2.5% during the first quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider’s stock worth $521,000 after purchasing an additional 80 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider’s stock worth $336,000 after purchasing an additional 81 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

CDW Trading Down 0.7%

Shares of CDW stock opened at $164.76 on Friday. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $230.86. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The company has a 50-day simple moving average of $173.43 and a two-hundred day simple moving average of $171.60. The company has a market capitalization of $21.59 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.74 and a beta of 0.95.

CDW (NASDAQ:CDW) last posted its earnings results 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 firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations 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 earned $2.50 EPS. Research analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be given a $0.625 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 annualized dividend and a yield of 1.5%. CDW’s payout ratio is currently 31.06%.

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.