Vestcor Inc Sells 5,332 Shares of CDW Co. (NASDAQ:CDW)

Vestcor Inc decreased its stake in CDW Co. (NASDAQ:CDW) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after acquiring an additional 64,702 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after acquiring an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of CDW during the third quarter valued at $416,111,000. Janus Henderson Group PLC raised its stake in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC increased its position in shares of CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after buying an additional 3,424 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CDW shares. Morgan Stanley increased 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. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays increased 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Trading Up 2.1 %

NASDAQ:CDW opened at $167.00 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.21 and a beta of 1.01. The firm has a fifty day simple moving average of $185.56 and a two-hundred day simple moving average of $194.86. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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

CDW declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.