CDW Co. (NASDAQ:CDW) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in CDW Co. (NASDAQ:CDW) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 28,336 shares of the information technology services provider’s stock after selling 742 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CDW were worth $4,932,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new position in CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust grew its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP grew its stake in CDW by 68.3% in the fourth 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, Brooklyn Investment Group acquired a new position in CDW in the third quarter worth about $90,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research reports. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Performance

Shares of NASDAQ CDW opened at $165.57 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $184.40 and a 200-day simple moving average of $193.19. The company has a market cap of $21.94 billion, a PE ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. CDW’s dividend payout ratio is presently 31.37%.

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.