Allstate Corp Purchases 4,827 Shares of CDW Corporation $CDW

Allstate Corp raised its position in CDW Corporation (NASDAQ:CDW) by 93.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,996 shares of the information technology services provider’s stock after buying an additional 4,827 shares during the quarter. Allstate Corp’s holdings in CDW were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. eCIO Inc. acquired a new position in shares of CDW in the 4th quarter worth approximately $61,000. Covestor Ltd increased its stake in shares of CDW by 53.4% in the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 258 shares in the last quarter. American National Bank & Trust bought a new stake in shares of CDW in the 4th quarter valued at $110,000. Steph & Co. increased its stake in CDW by 53.3% during the 4th quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock valued at $157,000 after purchasing an additional 400 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of CDW by 30.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock worth $162,000 after acquiring an additional 277 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW opened at $125.45 on Friday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $185.16. The stock has a 50-day moving average price of $120.77 and a 200-day moving average price of $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. The firm has a market cap of $16.03 billion, a PE ratio of 15.26, a P/E/G ratio of 1.57 and a beta of 1.04.

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

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be issued 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 30.66%.

Insider Activity

In other news, Director David W. Nelms acquired 18,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their ownership of the stock. 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup cut their price target on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. UBS Group cut their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings downgraded shares of CDW from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Barclays dropped their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.63.

About CDW

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.