CDW Co. (NASDAQ:CDW) Shares Bought by South Dakota Investment Council

South Dakota Investment Council grew its position in shares of CDW Co. (NASDAQ:CDW) by 533.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,174 shares of the information technology services provider’s stock after acquiring an additional 5,200 shares during the quarter. South Dakota Investment Council’s holdings in CDW were worth $1,075,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in shares of CDW during the 3rd quarter valued at $1,629,000. Assenagon Asset Management S.A. raised its position in CDW by 7,549.9% in the fourth 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 purchasing an additional 252,921 shares during the period. Franklin Resources Inc. boosted its position in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares during the period. Graphene Investments SAS boosted 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 worth $3,028,000 after buying an additional 2,600 shares during the period. Finally, Czech National Bank raised its holdings in shares of CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after buying an additional 1,685 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDW. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley raised their target price on 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 cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Down 3.3 %

NASDAQ:CDW opened at $186.50 on Monday. 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 company has a market capitalization of $24.85 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The stock has a 50-day simple moving average of $186.14 and a 200 day simple moving average of $199.97.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase 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 often an indication that the company’s leadership believes its shares are undervalued.

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.