Illinois Municipal Retirement Fund Has $11.59 Million Stock Position in CDW Co. (NASDAQ:CDW)

Illinois Municipal Retirement Fund lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,585 shares of the information technology services provider’s stock after selling 1,759 shares during the period. Illinois Municipal Retirement Fund’s holdings in CDW were worth $11,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of CDW by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 979,521 shares of the information technology services provider’s stock worth $170,476,000 after acquiring an additional 40,666 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of CDW by 22.7% in the 4th quarter. Impax Asset Management Group plc now owns 41,295 shares of the information technology services provider’s stock worth $7,187,000 after acquiring an additional 7,642 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of CDW by 9.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 3,720 shares of the information technology services provider’s stock worth $647,000 after acquiring an additional 316 shares during the last quarter. South Dakota Investment Council raised its holdings in shares of CDW by 533.9% in the 4th quarter. South Dakota Investment Council now owns 6,174 shares of the information technology services provider’s stock worth $1,075,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Cabot Wealth Management Inc. raised its holdings in shares of CDW by 1.6% in the 4th quarter. Cabot Wealth Management Inc. now owns 69,465 shares of the information technology services provider’s stock worth $12,090,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CDW. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 2.2 %

CDW stock opened at $182.56 on Wednesday. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The firm has a 50 day moving average price of $186.44 and a 200-day moving average price of $199.57. The company has a market capitalization of $24.33 billion, a P/E ratio of 22.91, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its earnings results 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders 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 dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its board has authorized a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.