Teacher Retirement System of Texas Boosts Stake in CDW Corporation (NASDAQ:CDW)

Teacher Retirement System of Texas grew its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 167.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 49,481 shares of the information technology services provider's stock after acquiring an additional 30,957 shares during the period. Teacher Retirement System of Texas' holdings in CDW were worth $7,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Unison Asset Management LLC lifted its position in CDW by 9.4% in the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after acquiring an additional 3,657 shares in the last quarter. Franklin Resources Inc. lifted its position in CDW by 12.7% in the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after acquiring an additional 13,748 shares in the last quarter. Madison Investment Advisors LLC bought a new position in CDW in the 4th quarter valued at approximately $130,996,000. Wellington Management Group LLP lifted its position in CDW by 29.2% in the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in CDW by 8.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after acquiring an additional 1,604 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insiders Place Their Bets

In related news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider directly owned 144,931 shares of the company's stock, 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 firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the transaction, the insider directly owned 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

CDW Price Performance

NASDAQ CDW opened at $182.06 on Friday. The business's fifty day moving average price is $177.29 and its 200-day moving average price is $175.55. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 3.07 and a beta of 0.93. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $241.26.

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

CDW Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on CDW shares. Barclays lowered their price objective on CDW from $223.00 to $205.00 and set an "equal weight" 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 on the stock in a research report on Thursday, April 17th. Citigroup increased their price target on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $208.71.

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.

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