CDW Corporation $CDW Stock: New Mexico Educational Retirement Board Grows Position

New Mexico Educational Retirement Board raised its stake in shares of CDW Corporation (NASDAQ:CDW) by 711.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,348 shares of the information technology services provider’s stock after buying an additional 45,898 shares during the period. New Mexico Educational Retirement Board’s holdings in CDW were worth $6,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 48.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 87 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of CDW by 2.8% during the third quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock worth $417,000 after acquiring an additional 89 shares in the last quarter. Covestor Ltd boosted its position in CDW by 9.0% during the third quarter. Covestor Ltd now owns 1,076 shares of the information technology services provider’s stock valued at $138,000 after purchasing an additional 89 shares during the last quarter. CX Institutional boosted its position in CDW by 4.0% during the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock valued at $331,000 after purchasing an additional 99 shares during the last quarter. Finally, VestGen Advisors LLC boosted its position in CDW by 5.7% during the third quarter. VestGen Advisors LLC now owns 2,302 shares of the information technology services provider’s stock valued at $295,000 after purchasing an additional 124 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Up 2.2%

CDW stock opened at $173.08 on Thursday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.26 and a quick ratio of 1.15. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.50 and a beta of 0.92. CDW Corporation has a one year low of $97.12 and a one year high of $175.19. The company’s fifty day moving average price is $149.88 and its two-hundred day moving average price is $134.38.

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

CDW Increases Dividend

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

Wall Street Analyst Weigh In

CDW has been the subject of several research reports. Citigroup lifted their price target on CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Barclays cut their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. UBS Group raised their price objective on shares of CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Finally, Morgan Stanley boosted their target price on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One research 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, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price 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.