New York State Teachers Retirement System Sells 12,563 Shares of CDW Co. (NASDAQ:CDW)

New York State Teachers Retirement System reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 118,410 shares of the information technology services provider’s stock after selling 12,563 shares during the period. New York State Teachers Retirement System’s holdings in CDW were worth $20,608,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. PDS Planning Inc raised its position in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares during the period. Summit Trail Advisors LLC raised its position in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after purchasing an additional 56 shares during the period. OneAscent Wealth Management LLC raised its position in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management raised its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the period. Finally, WCM Investment Management LLC raised its position in CDW by 4.6% in the 3rd quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock worth $313,000 after purchasing an additional 61 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CDW shares. Morgan Stanley lifted their target price 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. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic assumed 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. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 1.0 %

NASDAQ:CDW opened at $189.39 on Monday. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The company’s 50-day simple moving average is $184.91 and its 200 day simple moving average is $200.62. The firm has a market capitalization of $25.24 billion, a P/E ratio of 23.76, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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 forecast that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

CDW announced that its board has approved a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.