CDW Corporation (NASDAQ:CDW) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in CDW Corporation (NASDAQ:CDW - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 63,111 shares of the information technology services provider's stock after selling 3,474 shares during the period. Illinois Municipal Retirement Fund's holdings in CDW were worth $10,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new position in CDW in the 4th quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of CDW during the fourth quarter worth $32,000. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Optiver Holding B.V. grew its holdings in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Up 1.4%

Shares of NASDAQ CDW traded up $2.56 during midday trading on Tuesday, reaching $181.15. 605,770 shares of the company's stock were exchanged, compared to its average volume of 1,239,803. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $241.26. The business's fifty day moving average price is $175.21 and its two-hundred day moving average price is $175.37. The stock has a market capitalization of $23.85 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the company posted $1.92 EPS. CDW's quarterly revenue was up 6.7% on a year-over-year basis. Analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is currently 30.98%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup boosted their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CDW currently has an average rating of "Hold" and a consensus price target of $208.71.

Insider Activity

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider owned 144,931 shares of the company's stock, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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.