South Dakota Investment Council Has $221,000 Stock Position in CDW Co. (NASDAQ:CDW)

South Dakota Investment Council reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 62.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 974 shares of the information technology services provider’s stock after selling 1,600 shares during the quarter. South Dakota Investment Council’s holdings in CDW were worth $221,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CDW. Scotia Capital Inc. raised its stake in shares of CDW by 1.5% in the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after buying an additional 50 shares in the last quarter. Diversified Trust Co raised its stake in shares of CDW by 4.6% in the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 51 shares in the last quarter. Phoenix Holdings Ltd. raised its stake in shares of CDW by 4.3% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 52 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in shares of CDW by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 53 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of CDW by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after buying an additional 54 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDW. Evercore ISI increased their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Up 1.1 %

Shares of NASDAQ:CDW opened at $243.42 on Friday. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37. The company’s 50-day moving average price is $247.22 and its two-hundred day moving average price is $228.20. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The firm has a market cap of $32.71 billion, a P/E ratio of 30.05, a P/E/G ratio of 2.73 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The company’s revenue was down 7.7% on a year-over-year basis. As a group, research analysts forecast that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 30.62%.

CDW declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.