CDW Co. (NASDAQ:CDW) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,899 shares of the information technology services provider’s stock after selling 500 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of CDW worth $20,797,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CDW. Quest Partners LLC acquired a new position in CDW during the 2nd quarter worth $35,000. ORG Partners LLC acquired a new position in CDW during the 2nd quarter worth $34,000. Canoe Financial LP acquired a new position in CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC grew its stake in 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 in the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDW. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Hold” and a consensus price target of $246.71.

CDW Stock Up 1.4 %

CDW stock opened at $191.10 on Tuesday. The stock has a 50-day simple moving average of $219.30 and a 200-day simple moving average of $223.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40. The company has a market capitalization of $25.47 billion, a P/E ratio of 23.36, a PEG ratio of 2.86 and a beta of 1.06. CDW Co. has a fifty-two week low of $187.73 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is 30.56%.

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.