Ilmarinen Mutual Pension Insurance Co Makes New Investment in CDW Co. (NASDAQ:CDW)

Ilmarinen Mutual Pension Insurance Co purchased a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the information technology services provider’s stock, valued at approximately $8,702,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC grew its position in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Fulcrum Equity Management raised its holdings in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after acquiring an additional 61 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 4.7 %

Shares of NASDAQ:CDW opened at $144.49 on Friday. The stock has a market capitalization of $19.14 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock’s 50-day moving average price is $178.71 and its 200-day moving average price is $189.30. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $141.80 and a 12-month high of $257.33.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.73%. CDW’s payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.