BNP Paribas Financial Markets Purchases 14,817 Shares of CDW Co. (NASDAQ:CDW)

BNP Paribas Financial Markets increased its stake in CDW Co. (NASDAQ:CDW) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,781 shares of the information technology services provider’s stock after purchasing an additional 14,817 shares during the quarter. BNP Paribas Financial Markets owned about 0.18% of CDW worth $54,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of CDW in the 2nd quarter worth approximately $35,000. ORG Partners LLC purchased a new position in CDW during the second quarter valued at $34,000. Canoe Financial LP purchased a new position in CDW during the third quarter valued at $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the second quarter valued at about $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 0.6 %

CDW stock opened at $176.75 on Friday. The business has a fifty day moving average of $206.88 and a two-hundred day moving average of $217.52. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market cap of $23.55 billion, a P/E ratio of 21.61, a P/E/G ratio of 5.10 and a beta of 1.05. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Analyst Ratings Changes

Several equities analysts have recently commented on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

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.