New York State Teachers Retirement System Has $17.69 Million Position in CDW Corporation (NASDAQ:CDW)

New York State Teachers Retirement System lessened its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,362 shares of the information technology services provider's stock after selling 8,048 shares during the period. New York State Teachers Retirement System owned about 0.08% of CDW worth $17,687,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter valued at $30,000. OFI Invest Asset Management acquired a new position in shares of CDW in the 4th quarter valued at about $32,000. Optiver Holding B.V. grew its position in shares of CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares during the last quarter. Golden State Wealth Management LLC raised its stake in CDW by 237.2% during the first 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. Finally, Global X Japan Co. Ltd. bought a new position in CDW in the first quarter worth about $43,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research reports. UBS Group dropped their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $208.71.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the sale, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

CDW Stock Performance

CDW stock traded down $0.79 during mid-day trading on Friday, hitting $182.06. 494,454 shares of the company's stock traded hands, compared to its average volume of 1,242,401. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42. CDW Corporation has a one year low of $137.31 and a one year high of $241.26. The firm has a 50 day moving average price of $177.29 and a 200 day moving average price of $175.55. The company has a market cap of $23.97 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. On average, equities analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

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.