State Board of Administration of Florida Retirement System increased its stake in CDW Co. (NASDAQ:CDW) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 208,607 shares of the information technology services provider’s stock after buying an additional 12,230 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of CDW worth $27,492,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Seeyond grew its stake in CDW by 2.0% during the 3rd quarter. Seeyond now owns 3,856 shares of the information technology services provider’s stock valued at $461,000 after purchasing an additional 76 shares in the last quarter. Wealth Alliance grew its stake in CDW by 3.1% during the 3rd quarter. Wealth Alliance now owns 2,884 shares of the information technology services provider’s stock valued at $345,000 after purchasing an additional 87 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in CDW by 61.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 90 shares in the last quarter. Tranquility Partners LLC grew its stake in CDW by 2.7% during the 3rd quarter. Tranquility Partners LLC now owns 3,637 shares of the information technology services provider’s stock valued at $435,000 after purchasing an additional 96 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in CDW by 3.0% during the 4th quarter. Resonant Capital Advisors LLC now owns 3,338 shares of the information technology services provider’s stock valued at $440,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

In other news, insider Collin B. Kebo sold 6,000 shares of CDW stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $132.27, for a total transaction of $793,620.00. Following the transaction, the insider now directly owns 47,971 shares in the company, valued at approximately $6,345,124.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Frederick J. Kulevich sold 2,500 shares of CDW stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total value of $386,950.00. Following the transaction, the insider now owns 15,478 shares in the company, valued at $2,395,684.84. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $1,647,645 in the last ninety days. 1.33% of the stock is owned by company insiders.

A number of brokerages have weighed in on CDW. William Blair restated an “outperform” rating on shares of CDW in a research note on Wednesday, February 10th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and set a $164.00 target price on the stock in a report on Thursday, February 4th. Credit Suisse Group increased their target price on CDW from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 11th. Smith Barney Citigroup increased their target price on CDW from $140.00 to $145.00 in a report on Tuesday, November 3rd. Finally, Citigroup increased their target price on CDW from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $143.44.

Shares of NASDAQ CDW opened at $159.32 on Tuesday. The company has a market cap of $22.78 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. CDW Co. has a 12-month low of $73.39 and a 12-month high of $162.42. The company has a current ratio of 1.50, a quick ratio of 1.33 and a debt-to-equity ratio of 3.12. The stock’s 50 day simple moving average is $141.22 and its 200 day simple moving average is $128.55.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, February 9th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.38 billion. CDW had a return on equity of 88.43% and a net margin of 4.08%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $1.57 EPS. As a group, equities analysts forecast that CDW Co. will post 6.08 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 10th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Shareholders of record on Thursday, February 25th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, February 24th. CDW’s payout ratio is currently 26.58%.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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