CDW Corporation $CDW Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in CDW Corporation (NASDAQ:CDW) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 110,074 shares of the information technology services provider’s stock after selling 288 shares during the period. New York State Teachers Retirement System’s holdings in CDW were worth $19,658,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC raised its stake in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in CDW during the 1st quarter worth about $31,000. Pandora Wealth Inc. acquired a new stake in CDW during the 1st quarter worth about $32,000. Stone House Investment Management LLC acquired a new stake in CDW during the 1st quarter worth about $34,000. Finally, Golden State Wealth Management LLC lifted its position in CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $152.45 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $222.92. The business has a 50-day moving average price of $161.80 and a 200 day moving average price of $168.24. The firm has a market cap of $19.98 billion, a PE ratio of 18.94, a P/E/G ratio of 2.51 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $2.50 EPS. CDW’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 25th. CDW’s payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CDW in a research report on Wednesday, October 8th. UBS Group lowered their price target on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Citigroup lifted their price objective on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, Barclays reduced their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $202.00.

CDW Profile

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.