CDW Co. (NASDAQ:CDW) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,193 shares of the information technology services provider's stock after selling 6,565 shares during the period. State of Alaska Department of Revenue's holdings in CDW were worth $2,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CDW. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter valued at $37,000. Fortitude Family Office LLC raised its stake in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CDW in the third quarter valued at $43,000. Covestor Ltd raised its stake in shares of 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 acquiring an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of CDW in the fourth quarter valued at $69,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW traded down $1.35 during trading on Thursday, reaching $187.59. The company's stock had a trading volume of 1,120,550 shares, compared to its average volume of 1,412,643. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company's fifty day moving average price is $184.72 and its 200-day moving average price is $201.25. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 analysts forecast that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. CDW's payout ratio is 31.37%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price target on the stock. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CDW has an average rating of "Moderate Buy" and an average price target of $242.67.

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.