3,961 Shares in CDW Co. (NASDAQ:CDW) Bought by Allstate Corp

Allstate Corp bought a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,961 shares of the information technology services provider's stock, valued at approximately $689,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDW. Allworth Financial LP increased its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after buying an additional 56 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of CDW by 38.9% in the 4th 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 during the period. Fulcrum Equity Management lifted its holdings in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its stake in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Barclays raised 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. Finally, UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.50.

CDW Stock Performance

NASDAQ:CDW traded down $12.90 during mid-day trading on Thursday, hitting $151.57. 3,559,275 shares of the stock were exchanged, compared to its average volume of 1,101,862. The firm's 50-day simple moving average is $180.64 and its 200 day simple moving average is $190.34. CDW Co. has a fifty-two week low of $150.51 and a fifty-two week high of $263.37. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.