Erste Asset Management GmbH Has $857,000 Stake in CDW Corporation $CDW

Erste Asset Management GmbH decreased its position in CDW Corporation (NASDAQ:CDW) by 8.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,310 shares of the information technology services provider’s stock after selling 475 shares during the period. Erste Asset Management GmbH’s holdings in CDW were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A boosted its stake in CDW by 7.1% in the 1st quarter. Credit Agricole S A now owns 40,720 shares of the information technology services provider’s stock worth $6,526,000 after purchasing an additional 2,711 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in CDW by 13.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,389 shares of the information technology services provider’s stock worth $3,436,000 after purchasing an additional 2,456 shares during the period. Hsbc Holdings PLC boosted its stake in CDW by 8.7% in the 1st quarter. Hsbc Holdings PLC now owns 328,252 shares of the information technology services provider’s stock worth $52,520,000 after purchasing an additional 26,154 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in CDW by 365.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,632 shares of the information technology services provider’s stock worth $10,838,000 after purchasing an additional 53,098 shares during the period. Finally, Korea Investment CORP boosted its stake in CDW by 8.8% in the 1st quarter. Korea Investment CORP now owns 49,516 shares of the information technology services provider’s stock worth $7,935,000 after purchasing an additional 4,019 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CDW shares. Barclays cut their target price on shares of CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. UBS Group cut their target price on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $202.00.

CDW Stock Performance

Shares of CDW opened at $164.18 on Friday. The company’s fifty day moving average is $174.06 and its 200-day moving average is $173.01. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $2.50 EPS. CDW’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW’s dividend payout ratio is 31.06%.

About CDW

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.