Kentucky Retirement Systems Has $2.60 Million Stock Position in CDW Co. (NASDAQ:CDW)

Kentucky Retirement Systems lowered its stake in CDW Co. (NASDAQ:CDW) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,173 shares of the information technology services provider’s stock after selling 545 shares during the period. Kentucky Retirement Systems’ holdings in CDW were worth $2,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tsfg LLC bought a new position in shares of CDW in the first quarter worth about $26,000. Larson Financial Group LLC bought a new position in shares of CDW in the fourth quarter worth about $30,000. Rise Advisors LLC bought a new position in CDW during the first quarter valued at about $34,000. ORG Partners LLC bought a new stake in shares of CDW in the 4th quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. bought a new stake in shares of CDW in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Activity

In other news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Friday, June 7th. Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Barclays reduced their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup reduced their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.11.

CDW Stock Performance

CDW stock traded down $0.02 during midday trading on Monday, reaching $229.72. 111,413 shares of the company’s stock were exchanged, compared to its average volume of 784,932. CDW Co. has a 52 week low of $184.99 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The firm has a market cap of $30.87 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 3.39 and a beta of 1.04. The stock’s 50-day simple moving average is $226.33 and its 200 day simple moving average is $234.29.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. On average, analysts expect that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were given a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. CDW’s payout ratio is 30.96%.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.