PGGM Investments Has $558,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

PGGM Investments cut its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 86.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,208 shares of the information technology services provider's stock after selling 20,340 shares during the quarter. PGGM Investments' holdings in CDW were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CDW. Assetmark Inc. grew its stake in CDW by 37.3% in the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider's stock valued at $221,000 after purchasing an additional 265 shares in the last quarter. Covestor Ltd grew its stake in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock valued at $55,000 after purchasing an additional 109 shares in the last quarter. Apollon Wealth Management LLC grew its stake in CDW by 36.1% in the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider's stock valued at $665,000 after purchasing an additional 779 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in CDW by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider's stock valued at $75,125,000 after purchasing an additional 6,161 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in CDW by 21.8% in the third quarter. Zions Bancorporation N.A. now owns 4,113 shares of the information technology services provider's stock valued at $931,000 after purchasing an additional 735 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Barclays raised their price target 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, Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $242.67.

CDW Stock Performance

NASDAQ:CDW traded up $2.08 during mid-day trading on Wednesday, hitting $172.84. 1,192,480 shares of the stock were exchanged, compared to its average volume of 1,029,451. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The firm's 50-day simple moving average is $185.18 and its 200 day simple moving average is $194.11. 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 Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.45%. CDW's payout ratio is currently 31.37%.

CDW announced that its board has authorized a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

About CDW

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.