Teachers Retirement System of The State of Kentucky Sells 24,706 Shares of CDW Corporation (NASDAQ:CDW)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,377 shares of the information technology services provider's stock after selling 24,706 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of CDW worth $15,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CDW. Orion Capital Management LLC bought a new position in shares of CDW in the fourth quarter worth $30,000. Optiver Holding B.V. grew its holdings in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the last quarter. Golden State Wealth Management LLC raised its position in 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 worth $42,000 after purchasing an additional 185 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in CDW in the first quarter valued at approximately $43,000. Finally, Quarry LP acquired a new stake in CDW during the fourth quarter worth approximately $48,000. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $2.72 during trading hours on Monday, hitting $176.87. The stock had a trading volume of 589,603 shares, compared to its average volume of 1,237,391. The stock's fifty day simple moving average is $179.53 and its 200 day simple moving average is $175.83. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 21.92, a PEG 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.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) is 30.98%.

Insider Activity

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the transaction, the insider directly owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CDW shares. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, CDW has a consensus rating of "Hold" and an average target price of $208.50.

About CDW

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.