Texas Permanent School Fund raised its holdings in CDW Co. (NASDAQ:CDW – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,014 shares of the information technology services provider’s stock after purchasing an additional 99 shares during the quarter. Texas Permanent School Fund’s holdings in CDW were worth $3,396,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CDW. Signature Estate & Investment Advisors LLC grew its position in shares of CDW by 0.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 13,935 shares of the information technology services provider’s stock valued at $2,488,000 after purchasing an additional 56 shares during the last quarter. Veritable L.P. grew its position in shares of CDW by 0.8% in the third quarter. Veritable L.P. now owns 6,821 shares of the information technology services provider’s stock valued at $1,065,000 after purchasing an additional 57 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of CDW by 4.0% in the third quarter. Checchi Capital Advisers LLC now owns 1,559 shares of the information technology services provider’s stock valued at $243,000 after purchasing an additional 60 shares during the last quarter. Veriti Management LLC grew its position in shares of CDW by 3.9% in the fourth quarter. Veriti Management LLC now owns 1,584 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 60 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of CDW by 76.3% in the fourth 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. Institutional investors and hedge funds own 92.78% of the company’s stock.
CDW Trading Up 1.3 %
Shares of NASDAQ:CDW opened at $165.99 on Monday. The company has a market cap of $22.37 billion, a PE ratio of 20.80, a P/E/G ratio of 1.39 and a beta of 1.11. The company’s 50-day moving average price is $185.61 and its 200 day moving average price is $187.01. CDW Co. has a fifty-two week low of $147.91 and a fifty-two week high of $215.00. The company has a quick ratio of 1.17, a current ratio of 1.31 and a debt-to-equity ratio of 3.66.
CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 8th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
CDW Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, May 24th. CDW’s dividend payout ratio (DPR) is currently 29.57%.
Insider Transactions at CDW
In other news, Director Donna F. Zarcone sold 4,703 shares of CDW 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 directly owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Donna F. Zarcone sold 4,703 shares of the business’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 transaction of $955,790.69. Following the transaction, the director now directly owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy acquired 3,050 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were bought at an average cost of $163.62 per share, for a total transaction of $499,041.00. Following the completion of the transaction, the insider now directly owns 68,622 shares of the company’s stock, valued at approximately $11,227,931.64. The disclosure for this purchase can be found here. 0.85% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Citigroup raised their target price on shares of CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. StockNews.com assumed coverage on shares of CDW in a research report on Thursday, March 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of CDW from $225.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Stifel Nicolaus cut their price target on shares of CDW from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, Raymond James increased their price target on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $205.63.
About CDW
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.
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