CDW Co. (NASDAQ:CDW) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,158 shares of the information technology services provider's stock after selling 2,642 shares during the quarter. Public Employees Retirement System of Ohio's holdings in CDW were worth $8,033,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of 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 acquiring an additional 58 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after acquiring an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of CDW by 1.7% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock worth $735,000 after purchasing an additional 69 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CDW

In related news, 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 value of $5,375,553.10. Following the transaction, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the firm'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 sale, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

CDW Trading Down 0.5%

Shares of CDW stock traded down $0.99 on Thursday, reaching $182.35. The company had a trading volume of 617,254 shares, compared to its average volume of 1,219,738. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm has a market cap of $24.01 billion, a PE ratio of 22.88, a PEG ratio of 3.21 and a beta of 0.91. The firm's 50 day moving average price is $165.77 and its two-hundred day moving average price is $176.09. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last released 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 5.13% and a return on equity of 55.42%. 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 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lowered their target price 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. lowered their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group dropped their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup lifted their price objective on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

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.