South Dakota Investment Council Sells 1,600 Shares of CDW Co. (NASDAQ:CDW)

South Dakota Investment Council decreased its position in shares of CDW Co. (NASDAQ:CDW) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 974 shares of the information technology services provider’s stock after selling 1,600 shares during the quarter. South Dakota Investment Council’s holdings in CDW were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CDW. Scotia Capital Inc. lifted its holdings in shares of CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 50 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of CDW by 4.6% in the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after acquiring an additional 51 shares during the last quarter. Phoenix Holdings Ltd. lifted its holdings in shares of CDW by 4.3% in the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after acquiring an additional 52 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of CDW by 4.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 53 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of CDW by 1.1% in the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after buying an additional 54 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their price objective on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Citigroup upped their price objective on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Barclays upped their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $243.42 on Friday. The company has a market capitalization of $32.71 billion, a PE ratio of 30.05, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a 50 day simple moving average of $247.22 and a two-hundred day simple moving average of $228.20. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. Research analysts anticipate that CDW Co. will post 9.89 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is presently 30.62%.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

About CDW

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.