Public Sector Pension Investment Board raised its position in shares of CDW Co. (NASDAQ:CDW – Free Report) by 419.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,703 shares of the information technology services provider’s stock after acquiring an additional 100,675 shares during the period. Public Sector Pension Investment Board owned approximately 0.09% of CDW worth $24,303,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CDW. Prudential PLC lifted its position in CDW by 123.1% in the first quarter. Prudential PLC now owns 17,797 shares of the information technology services provider’s stock worth $3,468,000 after purchasing an additional 9,819 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in CDW by 3.9% during the first quarter. Elo Mutual Pension Insurance Co now owns 10,860 shares of the information technology services provider’s stock worth $2,117,000 after purchasing an additional 403 shares during the period. Sei Investments Co. boosted its holdings in CDW by 0.6% during the first quarter. Sei Investments Co. now owns 26,001 shares of the information technology services provider’s stock valued at $5,067,000 after purchasing an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of CDW in the 1st quarter valued at approximately $388,000. Finally, NewEdge Advisors LLC raised its holdings in shares of CDW by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 7,222 shares of the information technology services provider’s stock worth $1,408,000 after buying an additional 293 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of CDW from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Raymond James increased their price target on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. StockNews.com began coverage on CDW in a report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup started coverage on CDW in a report on Thursday, June 29th. They issued a “buy” rating and a $205.00 price target for the company. Finally, Barclays raised their price objective on shares of CDW from $198.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.00.
CDW Stock Up 0.7 %
Shares of NASDAQ:CDW traded up $1.40 during trading on Friday, hitting $212.55. 160,232 shares of the company were exchanged, compared to its average volume of 817,480. CDW Co. has a fifty-two week low of $147.91 and a fifty-two week high of $215.00. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 3.55. The firm has a fifty day moving average price of $193.19 and a two-hundred day moving average price of $186.83.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.18. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.39 billion. CDW had a return on equity of 83.33% and a net margin of 4.81%. As a group, research analysts anticipate that CDW Co. will post 9.13 earnings per share for the current fiscal year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is currently 30.03%.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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