CDW Corp (CDW) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lowered its stake in shares of CDW Corp (NASDAQ:CDW) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,289 shares of the information technology services provider’s stock after selling 23,684 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of CDW worth $16,915,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Lloyds Banking Group plc acquired a new position in CDW during the 3rd quarter valued at approximately $108,000. Toronto Dominion Bank boosted its position in CDW by 24.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in CDW during the 3rd quarter valued at approximately $257,000. Financial Counselors Inc. boosted its position in CDW by 16.7% during the 2nd quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock valued at $271,000 after purchasing an additional 621 shares during the period. Finally, Nordea Investment Management AB boosted its position in CDW by 110.9% during the 3rd quarter. Nordea Investment Management AB now owns 7,184 shares of the information technology services provider’s stock valued at $474,000 after purchasing an additional 3,777 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.
A number of research analysts have issued reports on the company. BidaskClub upgraded CDW from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Barclays reiterated a “hold” rating and set a $69.00 price target on shares of CDW in a research report on Sunday, November 5th. Zacks Investment Research lowered CDW from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley boosted their price target on CDW from $58.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $75.00 price target on shares of CDW in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $67.85.
CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, November 1st. The information technology services provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. CDW had a return on equity of 62.71% and a net margin of 2.90%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts expect that CDW Corp will post 3.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, November 22nd. This is an increase from CDW’s previous quarterly dividend of $0.16. CDW’s payout ratio is currently 31.11%.
In other news, insider Ann Elizabeth Ziegler sold 39,147 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.94, for a total value of $2,698,794.18. Following the sale, the insider now owns 47,477 shares of the company’s stock, valued at approximately $3,273,064.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas E. Richards sold 14,368 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $68.50, for a total value of $984,208.00. Following the completion of the sale, the insider now directly owns 670,391 shares in the company, valued at approximately $45,921,783.50. The disclosure for this sale can be found here. Insiders sold a total of 133,127 shares of company stock worth $9,105,265 in the last three months. Company insiders own 2.60% of the company’s stock.
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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