CDW Corporation $CDW Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in CDW Corporation (NASDAQ:CDW) by 2.9% during the 1st quarter, HoldingsChannel reports. The firm owned 224,085 shares of the information technology services provider’s stock after selling 6,607 shares during the quarter. California State Teachers Retirement System’s holdings in CDW were worth $27,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management increased its holdings in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Root Financial Partners LLC lifted its stake in shares of CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. eCIO Inc. purchased a new stake in CDW during the fourth quarter worth $61,000. Covestor Ltd boosted its holdings in CDW by 53.4% during the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after buying an additional 258 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in CDW during the fourth quarter valued at $110,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup increased their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Finally, UBS Group cut their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.88.

CDW Price Performance

Shares of CDW stock opened at $147.81 on Friday. The stock has a market capitalization of $18.88 billion, a P/E ratio of 17.98, a PEG ratio of 1.96 and a beta of 0.97. The business has a 50 day simple moving average of $133.10 and a two-hundred day simple moving average of $127.31. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $179.27. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the company posted $2.15 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. As a group, analysts predict that CDW Corporation will post 10.21 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were issued a $0.63 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. CDW’s dividend payout ratio (DPR) is presently 30.66%.

Insiders Place Their Bets

In other CDW news, Director David W. Nelms bought 18,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the purchase, the director directly owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.