51,818 CDW Corporation $CDW Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 795.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,335 shares of the information technology services provider’s stock after acquiring an additional 51,818 shares during the period. Maryland State Retirement & Pension System’s holdings in CDW were worth $7,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in CDW in the second quarter valued at about $2,143,082,000. Pzena Investment Management LLC increased 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 acquiring an additional 714,565 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of CDW in the second quarter worth about $300,073,000. Alyeska Investment Group L.P. raised its position in shares of CDW by 197.1% during 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 purchasing an additional 1,230,517 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of CDW during the second quarter worth about $255,058,000. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

Shares of NASDAQ CDW opened at $172.79 on Friday. The firm has a market cap of $21.57 billion, a PE ratio of 20.16, a PEG ratio of 1.53 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $175.19. The company has a fifty day moving average price of $150.36 and a 200 day moving average price of $134.61.

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

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.68 per share. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 25th. CDW’s payout ratio is currently 29.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CDW shares. Barclays cut their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. Morgan Stanley increased their target price on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. 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. JPMorgan Chase & Co. raised their target price on shares of CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.38.

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.