Allstate Corp Takes $689,000 Position in CDW Co. (NASDAQ:CDW)

Allstate Corp bought a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,961 shares of the information technology services provider’s stock, valued at approximately $689,000.

Other hedge funds have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW during the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. raised its holdings in CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. boosted its position in CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after buying an additional 3,567 shares during the period. Madison Investment Advisors LLC bought a new stake in CDW in the 4th quarter worth $130,996,000. Finally, Graphene Investments SAS increased its position in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares during the period. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays raised their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Down 0.8 %

CDW stock opened at $160.26 on Tuesday. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 20.11, 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 quick ratio of 1.24 and a current ratio of 1.35. The business’s 50 day moving average price is $181.83 and its two-hundred day moving average price is $190.93. CDW Co. has a fifty-two week low of $158.76 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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, analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

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

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 given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.56%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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.