51,818 CDW Corporation $CDW Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of CDW Corporation (NASDAQ:CDW) by 795.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,335 shares of the information technology services provider’s stock after acquiring an additional 51,818 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CDW were worth $7,476,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Jacobi Capital Management LLC boosted its holdings in CDW by 120.1% during the third quarter. Jacobi Capital Management LLC now owns 9,135 shares of the information technology services provider’s stock worth $1,171,000 after purchasing an additional 4,985 shares during the last quarter. Valued Wealth Advisors LLC grew its position in CDW by 2,550.0% in the third quarter. Valued Wealth Advisors LLC now owns 212 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. First Command Advisory Services Inc. bought a new position in CDW in the third quarter valued at $765,000. Silver Grove Financial Group Inc. increased its stake in CDW by 104.0% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 506 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 258 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in CDW by 64.5% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 9,404 shares of the information technology services provider’s stock valued at $1,205,000 after buying an additional 3,689 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CDW. JPMorgan Chase & Co. boosted their price target on shares of CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Barclays decreased their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. Citigroup raised their price objective on CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. UBS Group lifted their target price on CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, Morgan Stanley upped their target price on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $167.38.

CDW Trading Down 0.2%

NASDAQ CDW opened at $172.79 on Friday. The company has a market cap of $21.57 billion, a PE ratio of 20.16, a PEG ratio of 1.53 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $175.19. The stock has a 50 day moving average of $150.36 and a 200-day moving average of $134.61.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.28. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business earned $2.71 earnings per share. On average, equities research analysts anticipate that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.68 dividend. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, November 25th. CDW’s dividend payout ratio is 29.40%.

CDW Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.