Kentucky Retirement Systems Insurance Trust Fund Buys New Shares in CDW Corporation (NASDAQ:CDW)

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

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Orion Capital Management LLC purchased a new stake in CDW during the 4th quarter valued at $30,000. Allworth Financial LP boosted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the period. OFI Invest Asset Management purchased a new stake in CDW during the 4th quarter valued at $32,000. Parkside Financial Bank & Trust boosted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the period. Finally, Optiver Holding B.V. boosted its position 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 valued at $40,000 after buying an additional 119 shares during the period. Institutional investors own 93.15% of the company's stock.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider now directly owns 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDW. UBS Group dropped their price target 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. JPMorgan Chase & Co. dropped their price target 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. Barclays dropped 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, Citigroup raised their target price on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $208.71.

CDW Trading Up 3.5%

Shares of NASDAQ CDW opened at $179.84 on Wednesday. The stock has a market cap of $23.68 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. CDW Corporation has a 1 year low of $137.31 and a 1 year high of $241.26. The firm has a 50-day moving average of $172.99 and a 200 day moving average of $175.42.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. CDW's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $1.92 EPS. As a group, sell-side analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a $0.625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.39%. CDW's dividend payout ratio is presently 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.

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