Public Employees Retirement Association of Colorado Sells 647 Shares of CDW Co. (NASDAQ:CDW)

Public Employees Retirement Association of Colorado lessened its holdings in CDW Co. (NASDAQ:CDW) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,118 shares of the information technology services provider’s stock after selling 647 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CDW were worth $2,283,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Quarry LP purchased a new position in shares of CDW in the 4th quarter worth about $48,000. Berger Financial Group Inc increased its stake in shares of CDW by 2.8% in the fourth quarter. Berger Financial Group Inc now owns 22,793 shares of the information technology services provider’s stock worth $3,967,000 after buying an additional 615 shares during the period. Aquatic Capital Management LLC bought a new position in shares of CDW during the fourth quarter valued at about $5,916,000. Coldstream Capital Management Inc. raised its position in CDW by 11.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 184 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in CDW in the fourth quarter worth $1,511,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CDW. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Citigroup cut their price objective on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.38.

CDW Stock Up 0.9 %

CDW stock opened at $159.96 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. The stock has a market capitalization of $21.08 billion, a P/E ratio of 20.07, a P/E/G ratio of 3.21 and a beta of 0.97. The business has a fifty day moving average price of $162.78 and a 200-day moving average price of $180.22.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date 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 is presently 31.37%.

CDW announced that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is 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.