CDW Co. (NASDAQ:CDW) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in CDW Co. (NASDAQ:CDW) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,173 shares of the information technology services provider’s stock after selling 514 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CDW were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new stake in CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP lifted its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in CDW in the 4th quarter valued at about $69,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDW has been the subject of several recent analyst reports. UBS Group decreased 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. Barclays raised their target price 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. Finally, Morgan Stanley raised 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Performance

CDW stock opened at $165.57 on Friday. 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 stock has a market cap of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. The firm has a 50 day simple moving average of $184.40 and a 200 day simple moving average of $193.19. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly 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 net margin of 5.13% and a return on equity of 55.42%. Research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding 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 typically an indication that the company’s board 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.