CDW Co. (NASDAQ:CDW) Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,862 shares of the information technology services provider’s stock after purchasing an additional 1,915 shares during the period. California State Teachers Retirement System’s holdings in CDW were worth $54,957,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Tsfg LLC purchased a new position in CDW during the 1st quarter worth $26,000. Rise Advisors LLC purchased a new position in CDW during the 1st quarter valued at about $34,000. Larson Financial Group LLC purchased a new position in CDW during the 4th quarter valued at about $30,000. ORG Partners LLC purchased a new position in CDW during the 4th quarter valued at about $36,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of CDW during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling at CDW

In other news, insider Sona Chawla sold 18,437 shares of the stock in a transaction that occurred on 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 directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CDW. JPMorgan Chase & Co. decreased their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Barclays dropped their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus lifted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. Finally, Citigroup decreased their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $251.11.

CDW Stock Performance

Shares of CDW stock traded down $1.30 during trading on Thursday, hitting $216.81. 78,363 shares of the stock were exchanged, compared to its average volume of 796,789. The stock’s fifty day moving average is $226.43 and its 200 day moving average is $234.46. The stock has a market cap of $29.14 billion, a PE ratio of 27.23, a P/E/G ratio of 3.45 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.16% and a return on equity of 67.56%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CDW Co. will post 9.6 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s payout ratio is 30.96%.

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.