Pensionfund Sabic Buys 1,500 Shares of CDW Co. (NASDAQ:CDW)

Pensionfund Sabic lifted its position in CDW Co. (NASDAQ:CDW) by 28.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,725 shares of the information technology services provider’s stock after purchasing an additional 1,500 shares during the period. Pensionfund Sabic’s holdings in CDW were worth $1,170,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CDW. Commonwealth Equity Services LLC raised its position in CDW by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock valued at $1,817,000 after purchasing an additional 377 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of CDW by 17.3% during the second quarter. Victory Capital Management Inc. now owns 178,309 shares of the information technology services provider’s stock valued at $39,913,000 after acquiring an additional 26,237 shares in the last quarter. Candriam S.C.A. lifted its stake in CDW by 5.6% in the second quarter. Candriam S.C.A. now owns 8,463 shares of the information technology services provider’s stock worth $1,894,000 after acquiring an additional 448 shares during the period. Strategic Financial Concepts LLC purchased a new stake in CDW in the second quarter worth $66,000. Finally, Caprock Group LLC boosted its holdings in CDW by 198.0% in the second quarter. Caprock Group LLC now owns 5,651 shares of the information technology services provider’s stock valued at $1,265,000 after acquiring an additional 3,755 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.75.

CDW Stock Up 2.9 %

Shares of NASDAQ:CDW opened at $179.29 on Tuesday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 5.01 and a beta of 1.01. The stock has a fifty day simple moving average of $181.59 and a two-hundred day simple moving average of $207.72. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 EPS. On average, research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

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.