Illinois Municipal Retirement Fund Purchases 52,828 Shares of CDW Co. (NASDAQ:CDW)

Illinois Municipal Retirement Fund raised its position in shares of CDW Co. (NASDAQ:CDW) by 539.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,625 shares of the information technology services provider’s stock after purchasing an additional 52,828 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CDW were worth $14,018,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Tsfg LLC bought a new stake in shares of CDW during the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of CDW during the 1st quarter valued at about $34,000. ORG Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $34,000. Summit Securities Group LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $40,000. Finally, Continuum Advisory LLC grew its stake in shares of CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 220 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

NASDAQ CDW traded down $2.61 during trading hours on Friday, reaching $212.21. The company’s stock had a trading volume of 709,034 shares, compared to its average volume of 834,884. The firm’s 50-day moving average price is $221.91 and its 200-day moving average price is $231.81. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 3.42 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 earnings per share. On average, equities research analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Insider Buying and Selling

In related news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent research reports. Barclays cut their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research note on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.63.

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.