CDW Co. (NASDAQ:CDW) Stock Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of CDW Co. (NASDAQ:CDW) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 576,802 shares of the information technology services provider’s stock after selling 9,749 shares during the quarter. California Public Employees Retirement System’s holdings in CDW were worth $100,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its holdings in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Canoe Financial LP increased its stake in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in CDW during the 4th quarter worth about $69,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CDW. Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Trading Down 0.8 %

NASDAQ:CDW opened at $160.26 on Tuesday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The company has a market capitalization of $21.23 billion, a P/E ratio of 20.11, a P/E/G ratio of 3.21 and a beta of 1.01. The stock’s 50 day moving average price is $181.83 and its 200 day moving average price is $190.93. CDW Co. has a 52 week low of $158.76 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.56%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its board has initiated a share buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.