State of New Jersey Common Pension Fund D Cuts Stake in CDW Co. (NASDAQ:CDW)

State of New Jersey Common Pension Fund D trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 35.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,571 shares of the information technology services provider's stock after selling 26,105 shares during the period. State of New Jersey Common Pension Fund D's holdings in CDW were worth $10,872,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CDW. Envestnet Portfolio Solutions Inc. increased its stake in CDW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,419 shares of the information technology services provider's stock worth $1,005,000 after buying an additional 82 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of CDW by 8.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,190 shares of the information technology services provider's stock valued at $1,180,000 after acquiring an additional 385 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in CDW by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 38,557 shares of the information technology services provider's stock valued at $8,765,000 after purchasing an additional 543 shares during the period. Quadrant Capital Group LLC grew its stake in CDW by 13.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,913 shares of the information technology services provider's stock worth $435,000 after purchasing an additional 230 shares in the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in CDW by 20.2% during the 4th quarter. Meridian Wealth Management LLC now owns 2,171 shares of the information technology services provider's stock worth $493,000 after purchasing an additional 365 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Christine A. Leahy acquired 1,200 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares of the company's stock, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy bought 1,200 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by company insiders.

CDW Stock Performance

Shares of CDW stock traded up $1.51 during trading hours on Friday, hitting $220.15. 509,704 shares of the company were exchanged, compared to its average volume of 829,136. The business has a 50-day moving average of $221.79 and a 200-day moving average of $230.65. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 3.27 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. CDW's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.43 EPS. As a group, analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW's dividend payout ratio is currently 30.96%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Northcoast Research raised CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Finally, Barclays decreased their price target on CDW from $232.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.63.

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.