CDW Corporation $CDW Stock Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board grew its stake in shares of CDW Corporation (NASDAQ:CDW) by 711.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 52,348 shares of the information technology services provider’s stock after acquiring an additional 45,898 shares during the period. New Mexico Educational Retirement Board’s holdings in CDW were worth $6,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of CDW in the 2nd quarter worth $2,143,082,000. Pzena Investment Management LLC purchased a new stake in shares of CDW during the second quarter valued at $371,135,000. Jupiter Topco LLC purchased a new stake in shares of CDW during the second quarter valued at $300,073,000. Bank of America Corp DE purchased a new stake in shares of CDW during the second quarter valued at $255,058,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of CDW by 2,947.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,757,584 shares of the information technology services provider’s stock valued at $225,252,000 after purchasing an additional 1,699,909 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $173.08 on Thursday. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.50 and a beta of 0.92. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $175.19. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. The stock’s fifty day simple moving average is $149.88 and its 200-day simple moving average is $134.38.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.28. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.19 billion. CDW had a return on equity of 52.23% and a net margin of 4.48%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 EPS. On average, sell-side analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.68 per share. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $2.72 annualized dividend and a yield of 1.6%. CDW’s dividend payout ratio (DPR) is presently 29.40%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. UBS Group raised their target price on shares of CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Morgan Stanley boosted their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Citigroup raised their price objective on shares of CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.38.

CDW Company Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.