State of Alaska Department of Revenue Sells 6,565 Shares of CDW Co. (NASDAQ:CDW)

State of Alaska Department of Revenue lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 30.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,193 shares of the information technology services provider’s stock after selling 6,565 shares during the quarter. State of Alaska Department of Revenue’s holdings in CDW were worth $2,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canoe Financial LP purchased a new position in CDW during the third quarter worth $37,000. Fortitude Family Office LLC boosted its stake in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new position in CDW during the 3rd quarter valued at about $43,000. Covestor Ltd raised its position in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the period. Finally, Brooklyn Investment Group bought a new stake in CDW in the third quarter worth about $90,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the topic of a number of analyst reports. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Price Performance

NASDAQ CDW opened at $192.02 on Monday. The company has a market cap of $25.59 billion, a PE ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. The firm’s 50 day moving average price is $183.86 and its 200-day moving average price is $201.96. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Sell-side analysts forecast that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its board has approved a share buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

CDW Company Profile

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.