Teacher Retirement System of Texas Trims Stock Position in CDW Co. (NASDAQ:CDW)

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

Other large investors have also modified their holdings of the company. Oddo BHF Asset Management Sas purchased a new stake in CDW in the 3rd quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. grew its holdings in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares during the period. Franklin Resources Inc. raised its position in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in CDW in the fourth quarter valued at $130,996,000. Finally, Graphene Investments SAS boosted its position in shares of CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

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

CDW Price Performance

Shares of NASDAQ:CDW opened at $168.52 on Wednesday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The business’s fifty day moving average price is $183.82 and its two-hundred day moving average price is $192.42. The stock has a market cap of $22.33 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $162.84 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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, analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

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

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.