Oddo BHF Asset Management Sas Makes New $1.63 Million Investment in CDW Co. (NASDAQ:CDW)

Oddo BHF Asset Management Sas bought a new position in CDW Co. (NASDAQ:CDW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,200 shares of the information technology services provider's stock, valued at approximately $1,629,000.

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

Analyst Ratings Changes

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

CDW Price Performance

CDW traded down $1.99 during midday trading on Friday, reaching $176.06. 1,392,708 shares of the company's stock were exchanged, compared to its average volume of 924,618. The business's 50-day moving average price is $196.12 and its 200 day moving average price is $213.43. The stock has a market capitalization of $23.46 billion, a PE ratio of 21.52, a P/E/G ratio of 5.01 and a beta of 1.02. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. During the same period in the previous year, the business posted $2.60 earnings per share. The firm's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.42%. CDW's payout ratio is 30.56%.

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.