Vestcor Inc Has $696,000 Stock Position in CDW Co. (NASDAQ:CDW)

Vestcor Inc reduced its position in shares of CDW Co. (NASDAQ:CDW) by 57.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,997 shares of the information technology services provider’s stock after selling 5,332 shares during the period. Vestcor Inc’s holdings in CDW were worth $696,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CDW. Assetmark Inc. lifted its position in shares of CDW by 37.3% during the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock valued at $221,000 after purchasing an additional 265 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of CDW by 36.1% during the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider’s stock valued at $665,000 after purchasing an additional 779 shares in the last quarter. Metis Global Partners LLC raised its position in CDW by 1.8% in the third quarter. Metis Global Partners LLC now owns 4,295 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 74 shares during the period. CIBC Asset Management Inc raised its position in CDW by 1.2% in the third quarter. CIBC Asset Management Inc now owns 41,674 shares of the information technology services provider’s stock worth $9,431,000 after acquiring an additional 504 shares during the period. Finally, Empirical Finance LLC raised its position in CDW by 2.4% in the third quarter. Empirical Finance LLC now owns 4,446 shares of the information technology services provider’s stock worth $1,006,000 after acquiring an additional 104 shares during the period. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDW has been the topic of several research reports. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ CDW opened at $167.00 on Monday. The company’s 50 day moving average is $185.56 and its 200-day moving average is $194.86. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a market cap of $22.13 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.50%. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.