Kentucky Retirement Systems Insurance Trust Fund Sells 380 Shares of CDW Co. (NASDAQ:CDW)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 8.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,955 shares of the information technology services provider’s stock after selling 380 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CDW were worth $895,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CDW. Dimensional Fund Advisors LP raised its position in 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 acquiring an additional 128,263 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of CDW by 1.9% in the 1st quarter. Bessemer Group Inc. now owns 824,047 shares of the information technology services provider’s stock valued at $210,775,000 after purchasing an additional 15,304 shares during the period. Boston Partners lifted its stake in CDW by 1.9% in the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after purchasing an additional 15,178 shares during the last quarter. Finally, Perpetual Ltd bought a new position in CDW during the third quarter worth about $158,300,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the topic of several research analyst reports. Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday. They set a “buy” rating and a $230.00 price target for the company. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Price Performance

Shares of CDW stock opened at $177.63 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. CDW Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The company has a 50-day simple moving average of $213.49 and a two-hundred day simple moving average of $219.94.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $2.60 EPS. Analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s dividend payout ratio is currently 30.32%.

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.