National Pension Service Sells 7,647 Shares of CDW Co. (NASDAQ:CDW)

National Pension Service lessened its holdings in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,530 shares of the information technology services provider’s stock after selling 7,647 shares during the quarter. National Pension Service’s holdings in CDW were worth $33,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of CDW by 0.8% in the third quarter. Vanguard Group Inc. now owns 16,072,467 shares of the information technology services provider’s stock worth $2,508,590,000 after buying an additional 120,738 shares in the last quarter. State Street Corp lifted its holdings in shares of CDW by 0.5% in the third quarter. State Street Corp now owns 5,128,543 shares of the information technology services provider’s stock worth $800,463,000 after buying an additional 26,442 shares in the last quarter. FMR LLC lifted its holdings in shares of CDW by 89.8% in the second quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock worth $767,086,000 after buying an additional 2,303,669 shares in the last quarter. Fiduciary Management Inc. WI lifted its holdings in shares of CDW by 12.7% in the third quarter. Fiduciary Management Inc. WI now owns 1,675,953 shares of the information technology services provider’s stock worth $261,583,000 after buying an additional 188,689 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CDW by 5.5% in the second quarter. JPMorgan Chase & Co. now owns 1,427,776 shares of the information technology services provider’s stock worth $224,962,000 after buying an additional 75,043 shares in the last quarter. Institutional investors own 92.78% of the company’s stock.

CDW Trading Up 2.6 %

CDW stock opened at $193.58 on Friday. The company has a market capitalization of $26.25 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. CDW Co. has a one year low of $147.91 and a one year high of $215.00. The company’s 50 day moving average price is $198.97 and its two-hundred day moving average price is $182.73. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.33.

CDW (NASDAQ:CDW – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.48 by $0.02. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $6.19 billion. CDW had a net margin of 4.69% and a return on equity of 103.95%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. As a group, analysts predict that CDW Co. will post 9.87 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 8th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, February 23rd. CDW’s dividend payout ratio is 29.03%.

Insider Transactions at CDW

In other news, Director Donna F. Zarcone sold 4,703 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $203.23, for a total value of $955,790.69. Following the transaction, the director now owns 18,058 shares in the company, valued at $3,669,927.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. increased their price target on shares of CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, December 20th. Morgan Stanley raised their target price on shares of CDW from $217.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. StockNews.com assumed coverage on shares of CDW in a research note on Thursday. They issued a “hold” rating on the stock. Citigroup raised their target price on shares of CDW from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Finally, Raymond James raised their target price on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.86.

About CDW

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CDW Corp. engages in the provision of information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, the United Kingdom and Canada. It operates through the following segments: Corporate, Small Business, and Public. The Corporate segment serves the private sector business customers.