California State Teachers Retirement System Has $29.85 Million Holdings in CDW Corporation $CDW

California State Teachers Retirement System cut its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,249 shares of the information technology services provider's stock after selling 11,836 shares during the quarter. California State Teachers Retirement System owned 0.17% of CDW worth $29,850,699 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its stake in CDW by 6.0% in the second quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider's stock valued at $375,000 after buying an additional 150 shares in the last quarter. HB Wealth Management LLC grew its position in CDW by 6.9% in the 2nd quarter. HB Wealth Management LLC now owns 6,896 shares of the information technology services provider's stock worth $970,000 after purchasing an additional 445 shares during the period. Saudi Central Bank raised its stake in CDW by 86.4% during the 2nd quarter. Saudi Central Bank now owns 8,958 shares of the information technology services provider's stock valued at $1,260,000 after purchasing an additional 4,152 shares during the period. Compass Financial Management LLC purchased a new stake in CDW in the 2nd quarter worth about $55,000. Finally, Raiffeisen Bank International AG lifted its position in shares of CDW by 17,453.5% during the second quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider's stock valued at $2,111,000 after buying an additional 15,010 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Trading Up 0.9%

CDW traded up $1.29 on Tuesday, reaching $152.99. 476,168 shares of the company's stock were exchanged, compared to its average volume of 1,872,620. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.02 and a beta of 0.95. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $169.20. The company's 50 day moving average is $141.31 and its 200-day moving average is $130.24.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analysts' expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.CDW's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $2.60 earnings per share. Equities analysts predict that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW's dividend payout ratio (DPR) is 30.29%.

Insider Buying and Selling at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CDW shares. Royal Bank Of Canada upgraded CDW to an "outperform" rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective on the stock in a research note on Wednesday, May 27th. Citigroup increased their target price on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Barclays boosted their price objective on shares of CDW from $123.00 to $150.00 and gave the company an "equal weight" rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.38.

CDW 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.