Geode Capital Management LLC Sells 24,784 Shares of CDW Corporation $CDW

Geode Capital Management LLC reduced its position in shares of CDW Corporation (NASDAQ:CDW) by 0.7% in the second quarter, Holdings Channel reports. The fund owned 3,630,019 shares of the information technology services provider’s stock after selling 24,784 shares during the quarter. Geode Capital Management LLC’s holdings in CDW were worth $646,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of CDW by 365.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,632 shares of the information technology services provider’s stock valued at $10,838,000 after buying an additional 53,098 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in CDW during the first quarter worth approximately $1,310,000. LPL Financial LLC increased its stake in CDW by 63.1% during the first quarter. LPL Financial LLC now owns 68,736 shares of the information technology services provider’s stock worth $11,016,000 after acquiring an additional 26,604 shares during the last quarter. Federated Hermes Inc. raised its position in CDW by 364.5% during the first quarter. Federated Hermes Inc. now owns 5,072 shares of the information technology services provider’s stock valued at $813,000 after purchasing an additional 3,980 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of CDW by 31.1% in the 1st quarter. BNP Paribas Financial Markets now owns 411,629 shares of the information technology services provider’s stock valued at $65,968,000 after purchasing an additional 97,532 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 1.1%

NASDAQ:CDW opened at $145.08 on Friday. The company has a market cap of $18.89 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $222.92. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The stock has a fifty day simple moving average of $156.21 and a 200-day simple moving average of $168.21.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. Analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio (DPR) is 31.57%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays cut their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI reduced their target price on shares of CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. UBS Group dropped their price target on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Hold” and an average target price of $190.67.

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.