Allstate Corp Grows Stock Holdings in CDW Corporation $CDW

Allstate Corp grew its holdings in CDW Corporation (NASDAQ:CDW) by 93.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,996 shares of the information technology services provider’s stock after buying an additional 4,827 shares during the period. Allstate Corp’s holdings in CDW were worth $1,361,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC boosted its holdings in CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after acquiring an additional 216 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of CDW by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock worth $6,546,000 after acquiring an additional 255 shares during the period. Covestor Ltd increased its stake in shares of CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 258 shares during the period. Farther Finance Advisors LLC raised its position in CDW by 30.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock valued at $162,000 after acquiring an additional 277 shares in the last quarter. Finally, Steph & Co. raised its position in CDW by 53.3% during the fourth quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock valued at $157,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group reduced their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citigroup reduced their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Raymond James Financial set a $150.00 price target on CDW in a research report on Wednesday, May 6th. Barclays cut their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.63.

Insider Activity

In other CDW news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares in the company, valued at $5,685,715.75. The trade was a 54.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $125.45 on Friday. The stock’s 50-day moving average is $120.77 and its two-hundred day moving average is $129.25. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $185.16. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the business earned $2.15 EPS. CDW’s revenue was up 9.2% on a year-over-year basis. Analysts forecast that CDW Corporation will post 10 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 22nd. CDW’s dividend payout ratio is currently 30.66%.

CDW Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.