New York State Teachers Retirement System Trims Holdings in CDW Corporation $CDW

New York State Teachers Retirement System trimmed its position in CDW Corporation (NASDAQ:CDW) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,047 shares of the information technology services provider’s stock after selling 13,027 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of CDW worth $15,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Steph & Co. raised its position in shares of CDW by 917.6% in the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock worth $124,000 after buying an additional 624 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in CDW by 52.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the information technology services provider’s stock valued at $146,000 after purchasing an additional 281 shares in the last quarter. CX Institutional grew its stake in CDW by 32.7% in the 2nd quarter. CX Institutional now owns 1,208 shares of the information technology services provider’s stock worth $216,000 after buying an additional 298 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of CDW by 197.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,406 shares of the information technology services provider’s stock worth $251,000 after acquiring an additional 934 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of CDW by 12.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,423 shares of the information technology services provider’s stock valued at $254,000 after purchasing an additional 154 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CDW

In other news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares of the company’s stock, valued at $4,108,838.70. The trade was a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

CDW Stock Up 0.8%

CDW stock opened at $134.60 on Wednesday. The business has a 50 day moving average of $141.11 and a 200 day moving average of $157.20. The firm has a market cap of $17.52 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. CDW Corporation has a twelve month low of $126.93 and a twelve month high of $222.92. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. On average, research analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is 31.82%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CDW shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, November 25th. Morgan Stanley cut their target price on shares of CDW from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Barclays decreased their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, Evercore ISI reduced their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.43.

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.