BNP Paribas Financial Markets Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

BNP Paribas Financial Markets lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 188.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,994 shares of the information technology services provider’s stock after acquiring an additional 139,145 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of CDW worth $54,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Aaron Wealth Advisors LLC increased its position in shares of CDW by 2.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock valued at $394,000 after acquiring an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in CDW by 5.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after purchasing an additional 43 shares during the period. Prestige Wealth Management Group LLC grew its holdings in CDW by 6.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after purchasing an additional 49 shares during the period. Scotia Capital Inc. grew its holdings in CDW by 1.5% during the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after purchasing an additional 50 shares during the period. Finally, Checchi Capital Advisers LLC grew its holdings in CDW by 3.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,502 shares of the information technology services provider’s stock valued at $341,000 after purchasing an additional 50 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock traded down $1.81 on Friday, reaching $216.30. The company’s stock had a trading volume of 753,742 shares, compared to its average volume of 890,578. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 12-month low of $180.38 and a 12-month high of $263.37. The company has a market capitalization of $29.07 billion, a P/E ratio of 27.00, a PEG ratio of 3.21 and a beta of 1.04. The stock’s 50 day simple moving average is $225.09 and its 200-day simple moving average is $233.57.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. As a group, equities analysts predict that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.15%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analysts Set New Price Targets

Several brokerages have weighed in on CDW. Barclays reduced their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus reduced their price objective on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Citigroup cut their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

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.