CDW Corporation $CDW Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in CDW Corporation (NASDAQ:CDW) by 13,221.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,850,699 shares of the information technology services provider’s stock after buying an additional 29,626,614 shares during the quarter. California State Teachers Retirement System owned 0.24% of CDW worth $4,198,202,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management boosted its stake in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of CDW during the second quarter worth $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of CDW during the second quarter valued at $28,000. Root Financial Partners LLC lifted its holdings in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new stake in shares of CDW during the second quarter valued at $43,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW opened at $142.37 on Thursday. The firm has a market capitalization of $17.80 billion, a P/E ratio of 17.11, a PEG ratio of 1.89 and a beta of 0.95. The stock has a fifty day moving average of $140.36 and a 200-day moving average of $129.72. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $171.55.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.CDW’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 earnings per share. Equities analysts forecast that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s payout ratio is 30.29%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CDW shares. Morgan Stanley lifted their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Citigroup upped their price objective on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.38.

Insiders Place Their Bets

In other news, insider Elizabeth Connelly sold 26,695 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by company insiders.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.