Ilmarinen Mutual Pension Insurance Co Invests $8.70 Million in CDW Co. (NASDAQ:CDW)

Ilmarinen Mutual Pension Insurance Co bought a new stake in CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 50,000 shares of the information technology services provider's stock, valued at approximately $8,702,000.

Several other hedge funds have also modified their holdings of CDW. Centiva Capital LP purchased a new stake in CDW in the 3rd quarter valued at $447,000. Hilltop Holdings Inc. raised its holdings in CDW by 34.9% during the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider's stock worth $388,000 after purchasing an additional 443 shares during the last quarter. IHT Wealth Management LLC grew its stake in CDW by 16.5% in the 3rd quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider's stock valued at $353,000 after acquiring an additional 231 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of CDW by 22.8% during the 3rd quarter. Quantinno Capital Management LP now owns 31,533 shares of the information technology services provider's stock worth $7,136,000 after purchasing an additional 5,859 shares in the last quarter. Finally, State Street Corp lifted its position in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock valued at $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CDW. Morgan Stanley boosted their target price 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 price target on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group decreased their price objective 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 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.com, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $235.50.

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CDW Stock Performance

CDW stock traded up $0.80 during trading hours on Friday, hitting $147.50. The stock had a trading volume of 639,236 shares, compared to its average volume of 1,153,957. The company has a market cap of $19.54 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a 50-day moving average of $173.22 and a two-hundred day moving average of $186.47. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $249.33.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.69%. CDW's payout ratio is currently 31.37%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors 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.