CDW Co. (NASDAQ:CDW) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 576,802 shares of the information technology services provider’s stock after selling 9,749 shares during the quarter. California Public Employees Retirement System owned 0.43% of CDW worth $100,387,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Norges Bank purchased a new position in shares of CDW in the fourth quarter valued at $144,826,000. Holocene Advisors LP acquired a new stake in CDW during the 3rd quarter valued at $172,217,000. Madison Investment Advisors LLC acquired a new position in CDW in the 4th quarter worth $130,996,000. Finally, Proficio Capital Partners LLC boosted its holdings in CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $160.26 on Tuesday. 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 firm has a market capitalization of $21.23 billion, a PE ratio of 20.11, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 1-year low of $158.76 and a 1-year high of $263.37. The business’s fifty day moving average price is $181.83 and its two-hundred day moving average price is $190.93.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding 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 generally a sign that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.56%. CDW’s dividend payout ratio is presently 31.37%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDW. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group lowered their price objective 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 given a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $235.50.

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.