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

State of New Jersey Common Pension Fund D trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CDW. Creative Planning increased its holdings in CDW by 2.1% in the third quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock worth $3,226,000 after purchasing an additional 297 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in CDW by 2.7% in the third quarter. Vontobel Holding Ltd. now owns 2,989 shares of the information technology services provider’s stock worth $676,000 after purchasing an additional 78 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in CDW by 4.8% in the third quarter. Bleakley Financial Group LLC now owns 3,049 shares of the information technology services provider’s stock worth $690,000 after purchasing an additional 140 shares in the last quarter. Vest Financial LLC bought a new stake in CDW in the third quarter worth approximately $206,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in CDW by 184.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock worth $4,854,000 after purchasing an additional 13,902 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of CDW opened at $192.46 on Wednesday. The firm has a market cap of $25.65 billion, a PE ratio of 24.15, a PEG ratio of 5.40 and a beta of 1.01. The stock’s fifty day moving average price is $185.32 and its two-hundred day moving average price is $200.32. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last issued 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 return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts forecast that CDW Co. will post 9.35 EPS for the current year.

CDW announced that its board has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

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 paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. CDW’s payout ratio is 31.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley raised 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. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

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.