New York State Common Retirement Fund Has $10.99 Million Stake in CDW Corporation (NASDAQ:CDW)

New York State Common Retirement Fund decreased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,599 shares of the information technology services provider's stock after selling 17,000 shares during the quarter. New York State Common Retirement Fund owned 0.05% of CDW worth $10,994,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC boosted its stake in shares of CDW by 5.5% during the 4th quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider's stock valued at $687,000 after buying an additional 205 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of CDW by 16.0% in the 4th quarter. Farther Finance Advisors LLC now owns 681 shares of the information technology services provider's stock valued at $119,000 after purchasing an additional 94 shares during the last quarter. Signaturefd LLC lifted its stake in shares of CDW by 2.7% in the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock valued at $471,000 after purchasing an additional 72 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of CDW in the 4th quarter valued at $516,000. Finally, iA Global Asset Management Inc. lifted its stake in shares of CDW by 10.3% in the 4th quarter. iA Global Asset Management Inc. now owns 15,024 shares of the information technology services provider's stock valued at $2,615,000 after purchasing an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CDW shares. JPMorgan Chase & Co. boosted their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday. Citigroup boosted their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays cut their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Finally, UBS Group cut their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $208.50.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider owned 144,931 shares of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

CDW Price Performance

NASDAQ:CDW traded down $0.40 on Friday, reaching $179.59. The stock had a trading volume of 833,857 shares, compared to its average volume of 1,239,992. The company has a market capitalization of $23.65 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.02 and a beta of 0.93. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $237.48. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. The stock has a fifty day moving average price of $179.53 and a 200-day moving average price of $175.79.

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, topping analysts' consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. 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 business earned $1.92 earnings per share. CDW's quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW's dividend payout ratio is currently 30.98%.

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.