CDW Co. (NASDAQ:CDW) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 57.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,997 shares of the information technology services provider's stock after selling 5,332 shares during the quarter. Vestcor Inc's holdings in CDW were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CDW. State Street Corp raised its holdings in shares of CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after acquiring an additional 64,702 shares during the period. Geode Capital Management LLC raised its holdings in CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC raised its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock valued at $331,891,000 after buying an additional 1,446,025 shares during the period. Finally, Barclays PLC increased its stake in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock worth $261,779,000 after purchasing an additional 3,424 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Remove Ads

CDW Stock Down 2.7 %

Shares of CDW stock traded down $4.75 on Thursday, reaching $168.09. 1,574,146 shares of the company were exchanged, compared to its average volume of 1,032,128. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37. The company has a market cap of $22.27 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The stock's 50 day moving average price is $185.01 and its 200-day moving average price is $193.96.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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%. As a group, equities analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

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

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. UBS Group cut their price target on shares of 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 boosted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus price target of $242.67.

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.