California Public Employees Retirement System Has $186.88 Million Position in CDW Co. (NASDAQ:CDW)

California Public Employees Retirement System lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 822,093 shares of the information technology services provider’s stock after acquiring an additional 3,082 shares during the period. California Public Employees Retirement System’s holdings in CDW were worth $186,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in CDW during the 3rd quarter valued at $25,000. VisionPoint Advisory Group LLC bought a new stake in CDW during the 3rd quarter valued at $28,000. TFC Financial Management Inc. increased its stake in 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 purchasing an additional 55 shares in the last quarter. ORG Partners LLC bought a new stake in CDW during the 4th quarter valued at $36,000. Finally, Oakworth Capital Inc. bought a new stake in CDW during the 4th quarter valued at $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW traded up $2.02 during trading hours on Tuesday, reaching $239.66. 46,865 shares of the company were exchanged, compared to its average volume of 693,474. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37. The business’s 50 day simple moving average is $247.13 and its 200-day simple moving average is $227.87. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $32.20 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.67 and a beta of 1.09.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company posted $2.40 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that CDW Co. will post 9.89 earnings per share for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s dividend payout ratio is presently 30.62%.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent research reports. Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $242.67.

About CDW

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.