California State Teachers Retirement System cut its holdings in shares of CDW common stock (NASDAQ:CDW) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,375 shares of the information technology services provider’s stock after selling 7,957 shares during the period. California State Teachers Retirement System owned approximately 0.16% of CDW common stock worth $16,690,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of CDW common stock by 22.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,018 shares of the information technology services provider’s stock worth $279,000 after buying an additional 748 shares during the period. HighVista Strategies LLC boosted its position in shares of CDW common stock by 9.2% during the first quarter. HighVista Strategies LLC now owns 9,500 shares of the information technology services provider’s stock worth $668,000 after buying an additional 800 shares during the period. Amalgamated Bank boosted its position in shares of CDW common stock by 3.1% during the fourth quarter. Amalgamated Bank now owns 29,903 shares of the information technology services provider’s stock worth $2,078,000 after buying an additional 897 shares during the period. Cabot Wealth Management Inc. boosted its position in shares of CDW common stock by 1.0% during the first quarter. Cabot Wealth Management Inc. now owns 101,702 shares of the information technology services provider’s stock worth $7,151,000 after buying an additional 970 shares during the period. Finally, ETRADE Capital Management LLC boosted its position in shares of CDW common stock by 6.2% during the first quarter. ETRADE Capital Management LLC now owns 16,645 shares of the information technology services provider’s stock worth $1,170,000 after buying an additional 979 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.
Get CDW common stock alerts:Several equities analysts have recently issued reports on CDW shares. BidaskClub downgraded CDW common stock from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Needham & Company LLC upped their target price on CDW common stock from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd. Zacks Investment Research upgraded CDW common stock from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, May 8th. JPMorgan Chase & Co. assumed coverage on CDW common stock in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Robert W. Baird restated a “buy” rating on shares of CDW common stock in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $78.50.
In other CDW common stock news, insider Thomas E. Richards sold 17,647 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $82.31, for a total value of $1,452,524.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina M. Corley sold 4,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $69.68, for a total value of $278,720.00. Following the completion of the transaction, the insider now directly owns 36,177 shares in the company, valued at approximately $2,520,813.36. The disclosure for this sale can be found here. Insiders sold 108,564 shares of company stock worth $8,740,200 in the last ninety days. 2.60% of the stock is owned by corporate insiders.
CDW opened at $83.77 on Friday. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 21.58 and a beta of 1.11. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.35 and a quick ratio of 1.16. CDW common stock has a 1-year low of $58.57 and a 1-year high of $85.82.
CDW common stock (NASDAQ:CDW) last released its earnings results on Wednesday, May 2nd. The information technology services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.46 billion. CDW common stock had a return on equity of 69.59% and a net margin of 3.83%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. analysts predict that CDW common stock will post 4.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 25th were issued a $0.21 dividend. The ex-dividend date was Thursday, May 24th. This represents a $0.84 annualized dividend and a dividend yield of 1.00%. CDW common stock’s dividend payout ratio is currently 21.65%.
About CDW common stock
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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