CDW Co. (NASDAQ:CDW) Stake Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 822,093 shares of the information technology services provider’s stock after buying an additional 3,082 shares during the period. California Public Employees Retirement System owned 0.61% of CDW worth $186,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CDW. CWM LLC raised its holdings in shares of CDW by 2.1% during the third quarter. CWM LLC now owns 5,201 shares of the information technology services provider’s stock valued at $1,049,000 after buying an additional 105 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of CDW by 32.7% during the third quarter. HB Wealth Management LLC now owns 1,783 shares of the information technology services provider’s stock valued at $360,000 after acquiring an additional 439 shares during the period. Capital Investment Advisors LLC increased its stake in shares of CDW by 35.5% during the third quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock valued at $312,000 after acquiring an additional 405 shares during the period. Eastern Bank increased its stake in shares of CDW by 1.6% during the third quarter. Eastern Bank now owns 10,947 shares of the information technology services provider’s stock valued at $2,209,000 after acquiring an additional 173 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in shares of CDW by 3.6% during the third quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock valued at $364,000 after acquiring an additional 63 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CDW shares. JPMorgan Chase & Co. raised their price objective on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Citigroup raised their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Up 0.9 %

NASDAQ CDW traded up $2.02 on Tuesday, hitting $239.66. 46,865 shares of the stock were exchanged, compared to its average volume of 693,474. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.67 and a beta of 1.09. The company’s 50-day moving average price is $247.13 and its two-hundred day moving average price is $227.87.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 EPS. Research analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is currently 30.62%.

CDW announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is 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.