CDW Corporation (NASDAQ:CDW) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in CDW Corporation (NASDAQ:CDW) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,599 shares of the information technology services provider’s stock after selling 17,000 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of CDW worth $10,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Proficio Capital Partners LLC increased its holdings in shares of CDW by 5.5% during the 4th quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider’s stock worth $687,000 after buying an additional 205 shares during the last quarter. Farther Finance Advisors LLC grew its position in CDW by 16.0% in the fourth quarter. Farther Finance Advisors LLC now owns 681 shares of the information technology services provider’s stock worth $119,000 after acquiring an additional 94 shares during the period. Signaturefd LLC increased its stake in CDW by 2.7% during the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after acquiring an additional 72 shares during the last quarter. Magnetar Financial LLC acquired a new stake in CDW during the fourth quarter worth $516,000. Finally, iA Global Asset Management Inc. raised its position in CDW by 10.3% in the fourth quarter. iA Global Asset Management Inc. now owns 15,024 shares of the information technology services provider’s stock valued at $2,615,000 after purchasing an additional 1,408 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $179.59 on Friday. The stock has a market capitalization of $23.65 billion, a P/E ratio of 22.25, a P/E/G ratio of 3.03 and a beta of 0.93. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $237.48. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The firm’s 50-day moving average is $179.53 and its two-hundred day moving average is $175.78.

CDW (NASDAQ:CDW) last issued its quarterly 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 return on equity of 54.90% and a net margin of 5.10%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company earned $1.92 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Barclays reduced their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Hold” and an average target price of $208.50.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider owned 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm’s stock in a transaction dated 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 directly owned 36,077 shares in the company, 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. Company insiders own 0.84% of the company’s stock.

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.