Kentucky Retirement Systems Sells 127 Shares of CDW Co. (NASDAQ:CDW)

Kentucky Retirement Systems lessened its position in CDW Co. (NASDAQ:CDW) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,179 shares of the information technology services provider’s stock after selling 127 shares during the quarter. Kentucky Retirement Systems’ holdings in CDW were worth $1,598,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CDW. Massachusetts Financial Services Co. MA bought a new stake in CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of CDW in the 3rd quarter valued at about $172,217,000. Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Finally, Unigestion Holding SA raised its holdings in shares of CDW by 917.4% in the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $186.50 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a 50 day simple moving average of $186.14 and a two-hundred day simple moving average of $199.97. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its board has authorized a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDW. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.