CDW Corporation (NASDAQ:CDW) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in CDW Corporation (NASDAQ:CDW) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,111 shares of the information technology services provider’s stock after selling 3,474 shares during the period. Illinois Municipal Retirement Fund’s holdings in CDW were worth $10,114,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CDW. Orion Capital Management LLC purchased a new stake in CDW in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new stake in CDW in the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Optiver Holding B.V. boosted its holdings in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in CDW by 237.2% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $177.41 on Friday. The business’s 50 day simple moving average is $174.60 and its 200-day simple moving average is $175.39. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 2.98 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 12 month low of $137.31 and a 12 month high of $241.26.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $1.92 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio is currently 30.98%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of analyst reports. Citigroup lifted 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. JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Barclays decreased their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group decreased their price target on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note 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.com, the company currently has a consensus rating of “Hold” and an average price target of $208.71.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 36,077 shares of the company’s stock, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

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.