CDW Co. (NASDAQ:CDW) Shares Bought by Oregon Public Employees Retirement Fund

Posted by Defense World Staff on Apr 11th, 2023

Oregon Public Employees Retirement Fund raised its position in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,446 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in CDW were worth $1,865,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of CDW by 76.3% in the 4th quarter. Allworth Financial LP now owns 141 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 61 shares during the last quarter. RFP Financial Group LLC acquired a new position in shares of CDW in the 4th quarter worth approximately $25,000. Eagle Bay Advisors LLC lifted its stake in CDW by 1,333.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 172 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 160 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in CDW during the 3rd quarter worth about $61,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in CDW during the 3rd quarter valued at about $62,000. 92.78% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $189.04 on Tuesday. The stock has a 50-day moving average price of $197.76 and a two-hundred day moving average price of $185.14. The company has a market cap of $25.63 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. CDW Co. has a 12-month low of $147.91 and a 12-month high of $215.00.

CDW (NASDAQ:CDW – Get Rating) last announced its earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $6.19 billion. CDW had a return on equity of 103.95% and a net margin of 4.69%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. As a group, research analysts predict that CDW Co. will post 9.9 EPS for the current year.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 8th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 23rd. CDW’s dividend payout ratio is currently 29.03%.

Insider Transactions at CDW

In other news, Director Donna F. Zarcone sold 4,703 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total transaction of $955,790.69. Following the completion of the transaction, the director now directly owns 18,058 shares in the company, valued at $3,669,927.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CDW. JPMorgan Chase & Co. upped their price objective on CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. Credit Suisse Group raised their target price on shares of CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Raymond James boosted their price target on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. StockNews.com began coverage on shares of CDW in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Citigroup increased their target price on CDW from $210.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price 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. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.