7,200 Shares in CDW Co. (NASDAQ:CDW) Acquired by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new stake in CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,200 shares of the information technology services provider’s stock, valued at approximately $1,629,000.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in CDW during the 3rd quarter worth approximately $973,000. Sanctuary Advisors LLC increased its holdings in CDW by 5.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider’s stock valued at $1,260,000 after purchasing an additional 265 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in CDW by 18.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock worth $572,000 after purchasing an additional 397 shares in the last quarter. Finally, Fulcrum Equity Management grew its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.71.

CDW Stock Performance

Shares of CDW stock opened at $176.06 on Friday. The company has a market capitalization of $23.46 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. CDW Co. has a 52 week low of $172.95 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company’s 50 day moving average price is $196.12 and its two-hundred day moving average price is $213.51.

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

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

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.