CDW Co. (NASDAQ:CDW) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in CDW Co. (NASDAQ:CDW - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,083 shares of the information technology services provider's stock after selling 10,974 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of CDW worth $21,421,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CDW. Norges Bank acquired a new stake in shares of CDW during the fourth quarter valued at about $144,826,000. Madison Investment Advisors LLC acquired a new stake in CDW during the 4th quarter valued at approximately $130,996,000. Proficio Capital Partners LLC increased its holdings in CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after buying an additional 575,333 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in CDW by 29.2% during the 4th 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 acquiring an additional 574,444 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup decreased their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Stock Performance

Shares of NASDAQ CDW traded down $0.99 during midday trading on Friday, reaching $157.95. 1,042,342 shares of the company traded hands, compared to its average volume of 1,178,821. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.21 and a beta of 0.97. The stock has a 50-day moving average price of $164.15 and a 200 day moving average price of $181.40.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.58%. CDW's dividend payout ratio (DPR) is 31.37%.

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

CDW Company 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.