CDW Co. (NASDAQ:CDW) Stake Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 134,746 shares of the information technology services provider’s stock after selling 3,156 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CDW were worth $30,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of CDW by 211.5% during the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after acquiring an additional 30,012 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after purchasing an additional 55,239 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in CDW in the 1st quarter valued at about $3,940,000. Grayhawk Investment Strategies Inc. acquired a new position in CDW during the 4th quarter valued at about $854,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of CDW during the 1st quarter worth about $1,403,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CDW shares. Stifel Nicolaus increased their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. Barclays cut their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $252.75.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $226.30 on Tuesday. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The company has a 50-day moving average of $221.05 and a two-hundred day moving average of $228.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $2.43 earnings per share. On average, equities research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

CDW 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.