CDW Co. (NASDAQ:CDW) Position Raised by South Dakota Investment Council

South Dakota Investment Council lifted its position in shares of CDW Co. (NASDAQ:CDW) by 533.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,174 shares of the information technology services provider’s stock after acquiring an additional 5,200 shares during the period. South Dakota Investment Council’s holdings in CDW were worth $1,075,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in CDW during the 3rd quarter valued at about $1,629,000. Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after buying an additional 3,567 shares during the last quarter. Graphene Investments SAS boosted its position in shares of CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after buying an additional 2,600 shares during the period. Finally, Czech National Bank grew its holdings in CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after buying an additional 1,685 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 3.3 %

NASDAQ CDW opened at $186.50 on Monday. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a market capitalization of $24.85 billion, a P/E ratio of 23.40, a PEG ratio of 3.21 and a beta of 1.01. The company’s 50 day simple moving average is $186.14 and its 200 day simple moving average is $199.97. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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, beating 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%. Equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Barclays boosted their price target 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, 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 note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

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.