Public Sector Pension Investment Board Purchases 600 Shares of CDW Co. (NASDAQ:CDW)

Public Sector Pension Investment Board increased its position in shares of CDW Co. (NASDAQ:CDW) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,829 shares of the information technology services provider’s stock after acquiring an additional 600 shares during the quarter. Public Sector Pension Investment Board owned about 0.20% of CDW worth $61,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of CDW in the second quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in CDW in the 2nd quarter valued at $35,000. Canoe Financial LP acquired a new position in CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC increased its holdings in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW in the 2nd quarter valued at about $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $176.75 on Thursday. The company has a market capitalization of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The firm’s 50 day moving average is $207.78 and its 200-day moving average is $217.81. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is 30.56%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CDW. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. 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 report on Monday, October 28th. Finally, Redburn Atlantic started 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

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.