80,363 CDW Corporation $CDW Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of CDW Corporation (NASDAQ:CDW) by 642.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,881 shares of the information technology services provider’s stock after buying an additional 80,363 shares during the period. State of Alaska Department of Revenue’s holdings in CDW were worth $11,904,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashurst Perkins Coie Trust Co acquired a new position in shares of CDW during the 3rd quarter valued at about $33,000. Mather Group LLC. raised its stake in shares of CDW by 56.5% in the 3rd quarter. Mather Group LLC. now owns 4,771 shares of the information technology services provider’s stock valued at $611,000 after acquiring an additional 1,722 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in CDW by 5,356.1% in the 3rd quarter. Fortitude Family Office LLC now owns 2,237 shares of the information technology services provider’s stock worth $287,000 after purchasing an additional 2,196 shares during the last quarter. Union Savings Bank lifted its holdings in CDW by 500.0% in the 3rd quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in CDW by 1,281.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 21,012 shares of the information technology services provider’s stock worth $2,693,000 after purchasing an additional 19,491 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Transactions at CDW

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CDW shares. Citigroup increased their price target on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Morgan Stanley boosted their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Barclays decreased their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.12.

CDW Trading Up 2.8%

Shares of NASDAQ:CDW opened at $154.33 on Friday. The company has a market cap of $19.29 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.97 and a beta of 0.95. The stock’s 50-day moving average is $142.42 and its 200-day moving average is $133.67. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $161.10. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%. The business had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.6%. CDW’s dividend payout ratio (DPR) is 30.29%.

CDW Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers plan, acquire, implement and manage information technology through a broad portfolio of hardware, software and cloud-based solutions.

Its offerings include computers, servers, networking equipment, data storage, cybersecurity products, collaboration tools and software. CDW also provides professional and managed services, including cloud adoption, data center modernization, security, virtualization, configuration, technical support and lifecycle management.

Founded in 1984 as Computer Discount Warehouse, the company is headquartered in Vernon Hills, Illinois.