CDW Corporation $CDW Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in CDW Corporation (NASDAQ:CDW) by 666.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,613 shares of the information technology services provider’s stock after purchasing an additional 178,773 shares during the period. Retirement Systems of Alabama’s holdings in CDW were worth $26,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in shares of CDW during the second quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC raised its holdings in shares of CDW by 27.1% in the third quarter. Pzena Investment Management LLC now owns 3,353,465 shares of the information technology services provider’s stock worth $429,780,000 after buying an additional 714,565 shares during the period. Jupiter Topco LLC purchased a new stake in shares of CDW in the second quarter worth approximately $300,073,000. Alyeska Investment Group L.P. raised its holdings in shares of CDW by 197.1% in the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock worth $260,880,000 after buying an additional 1,230,517 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of CDW in the second quarter worth approximately $255,058,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CDW shares. UBS Group raised their price target on CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. upped their price objective on CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Citigroup increased their target price on CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Morgan Stanley lifted their target price on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $167.38.

CDW Price Performance

CDW stock opened at $169.36 on Wednesday. The stock has a market cap of $21.14 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.26 and a quick ratio of 1.15. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $172.47. The firm has a 50-day moving average of $149.42 and a two-hundred day moving average of $134.15.

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

CDW Increases Dividend

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

CDW Company 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.