Teachers Retirement System of The State of Kentucky Sells 689 Shares of CDW Co. (NASDAQ:CDW)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,057 shares of the information technology services provider’s stock after selling 689 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CDW were worth $30,337,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after acquiring an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in CDW during the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC grew its position in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of CDW by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $179.01 on Wednesday. The company has a fifty day moving average of $198.66 and a 200-day moving average of $214.40. The company has a market capitalization of $23.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 5.06 and a beta of 1.02. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Ratings Changes

A number of brokerages have recently commented on CDW. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $244.63.

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.