Public Employees Retirement System of Ohio Trims Position in CDW Co. (NASDAQ:CDW)

Public Employees Retirement System of Ohio reduced its position in CDW Co. (NASDAQ:CDW – Free Report) by 9.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 57,515 shares of the information technology services provider’s stock after selling 5,963 shares during the period. Public Employees Retirement System of Ohio’s holdings in CDW were worth $11,604,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of CDW during the third quarter worth $25,000. VisionPoint Advisory Group LLC purchased a new stake in CDW in the 3rd quarter valued at about $28,000. TFC Financial Management Inc. increased its stake in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of CDW during the 3rd quarter worth about $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of CDW in the fourth quarter worth approximately $33,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Barclays upped their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Morgan Stanley downgraded CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective for the company. in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. lifted their target price on CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $223.60.

CDW Stock Down 0.4 %

Shares of CDW stock opened at $245.51 on Friday. CDW Co. has a twelve month low of $160.66 and a twelve month high of $250.63. The stock has a market cap of $32.95 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The company has a fifty day moving average price of $236.11 and a 200 day moving average price of $220.16.

CDW (NASDAQ:CDW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW declared that its board has approved a share repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

CDW Company Profile

(Free Report)

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.

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