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

BNP Paribas Financial Markets grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 241,781 shares of the information technology services provider's stock after buying an additional 14,817 shares during the quarter. BNP Paribas Financial Markets owned 0.18% of CDW worth $54,715,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in CDW during the 3rd quarter valued at $90,000. Quantbot Technologies LP increased its position in shares of CDW by 30.4% in the third quarter. Quantbot Technologies LP now owns 18,764 shares of the information technology services provider's stock valued at $4,246,000 after acquiring an additional 4,376 shares during the period. Dai ichi Life Insurance Company Ltd raised its stake in shares of CDW by 105.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 5,840 shares of the information technology services provider's stock valued at $1,322,000 after acquiring an additional 3,000 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of CDW during the third quarter worth about $561,000. Finally, Private Trust Co. NA grew its stake in shares of CDW by 10.9% in the third quarter. Private Trust Co. NA now owns 2,029 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Down 0.5 %

CDW stock traded down $0.82 on Friday, hitting $175.93. 958,009 shares of the stock traded hands, compared to its average volume of 908,531. The business's fifty day simple moving average is $205.86 and its 200 day simple moving average is $217.24. The firm has a market cap of $23.44 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37.

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). 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 period last year, the business earned $2.60 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.