Kentucky Retirement Systems Insurance Trust Fund Makes New $626,000 Investment in CDW Corporation (NASDAQ:CDW)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,907 shares of the information technology services provider's stock, valued at approximately $626,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after buying an additional 99,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP increased its holdings in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after purchasing an additional 574,444 shares during the period. Invesco Ltd. increased its holdings in CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of the firm's 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 now owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $7,423,162.14. Following the completion of the transaction, the insider now directly owns 144,931 shares in the company, 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 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CDW shares. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group decreased their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $208.71.

CDW Trading Up 0.1%

CDW stock traded up $0.13 during trading hours on Friday, reaching $177.41. 2,773,826 shares of the company's stock were exchanged, compared to its average volume of 1,243,120. 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 firm's 50 day simple moving average is $174.60 and its 200 day simple moving average is $175.37. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $241.26. The firm has a market capitalization of $23.36 billion, a PE ratio of 21.98, a PEG ratio of 2.99 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the business posted $1.92 EPS. The business's revenue was up 6.7% compared to the same quarter last year. Research analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW's payout ratio is currently 30.98%.

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.