State of Alaska Department of Revenue Has $4.92 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

State of Alaska Department of Revenue lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 23.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,758 shares of the information technology services provider's stock after selling 6,570 shares during the quarter. State of Alaska Department of Revenue's holdings in CDW were worth $4,922,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new stake in CDW in the second quarter valued at approximately $35,000. Summit Securities Group LLC acquired a new stake in CDW in the second quarter worth $40,000. Continuum Advisory LLC boosted its position in shares of CDW by 1,692.3% during the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock worth $52,000 after purchasing an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of CDW in the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Transactions at CDW

In other news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

CDW Stock Down 11.3 %

CDW stock traded down $24.84 during midday trading on Wednesday, hitting $195.06. The company's stock had a trading volume of 3,018,840 shares, compared to its average volume of 832,472. The company's fifty day moving average price is $221.46 and its 200 day moving average price is $224.17. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The stock has a market capitalization of $26.22 billion, a P/E ratio of 24.35, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $2.43 EPS. CDW's revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. CDW's payout ratio is 30.96%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CDW shares. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $235.00 in a research report on Monday. Barclays dropped their price objective on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $250.71.

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.