CDW Co. (NASDAQ:CDW) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in CDW Co. (NASDAQ:CDW) by 51.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,524 shares of the information technology services provider’s stock after selling 19,330 shares during the quarter. Teacher Retirement System of Texas’ holdings in CDW were worth $3,224,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Allworth Financial LP grew its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust grew its position in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP increased its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of CDW during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 1.1 %

Shares of NASDAQ:CDW opened at $168.52 on Wednesday. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a market capitalization of $22.33 billion, a PE ratio of 21.14, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a 50 day simple moving average of $183.82 and a 200-day simple moving average of $192.42.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

Analysts Set New Price Targets

CDW has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays increased their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

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.