State of New Jersey Common Pension Fund D Sells 94 Shares of CDW Co. (NASDAQ:CDW)

State of New Jersey Common Pension Fund D reduced its holdings in CDW Co. (NASDAQ:CDW) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,477 shares of the information technology services provider’s stock after selling 94 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CDW were worth $8,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA bought a new position in CDW in the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC boosted its holdings in shares of 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 worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of CDW in the 3rd quarter worth about $172,217,000. Assenagon Asset Management S.A. boosted its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Finally, Unigestion Holding SA boosted its holdings in shares of CDW by 917.4% in the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock worth $39,021,000 after purchasing an additional 155,517 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 1.6 %

CDW stock opened at $192.46 on Wednesday. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $25.65 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The business has a 50 day moving average of $185.32 and a 200 day moving average of $200.32.

CDW (NASDAQ:CDW) last posted 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, research analysts forecast that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW announced that its Board of Directors has approved 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDW shares. UBS Group dropped 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. Barclays upped their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price 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.