Baird Financial Group Inc. Reduces Stock Holdings in CDW Corporation $CDW

Baird Financial Group Inc. trimmed its position in shares of CDW Corporation (NASDAQ:CDW) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,713 shares of the information technology services provider’s stock after selling 21,946 shares during the period. Baird Financial Group Inc. owned 0.22% of CDW worth $51,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew 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 valued at $10,838,000 after buying an additional 53,098 shares in the last quarter. LPL Financial LLC lifted its position in shares of 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 in the last quarter. Federated Hermes Inc. lifted its position in shares of CDW by 364.5% during the first quarter. Federated Hermes Inc. now owns 5,072 shares of the information technology services provider’s stock worth $813,000 after acquiring an additional 3,980 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of CDW by 31.1% in the first quarter. BNP Paribas Financial Markets now owns 411,629 shares of the information technology services provider’s stock worth $65,968,000 after acquiring an additional 97,532 shares during the period. Finally, Credit Agricole S A grew its position in shares of CDW by 7.1% in the first quarter. Credit Agricole S A now owns 40,720 shares of the information technology services provider’s stock valued at $6,526,000 after purchasing an additional 2,711 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW stock opened at $144.54 on Friday. CDW Corporation has a fifty-two week low of $135.63 and a fifty-two week high of $222.92. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The stock has a market cap of $18.82 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07. The firm’s fifty day moving average price is $149.92 and its 200-day moving average price is $164.94.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. On average, equities research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is 31.82%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDW. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Barclays lowered their price target on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Evercore ISI cut their price objective on shares of CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Finally, UBS Group reduced their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.86.

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.