Texas Permanent School Fund Corp Sells 5,528 Shares of CDW Co. (NASDAQ:CDW)

Texas Permanent School Fund Corp cut its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,157 shares of the information technology services provider's stock after selling 5,528 shares during the period. Texas Permanent School Fund Corp's holdings in CDW were worth $4,960,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in CDW during the 4th quarter valued at $392,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of CDW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,419 shares of the information technology services provider's stock valued at $1,005,000 after acquiring an additional 82 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of CDW by 8.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,190 shares of the information technology services provider's stock worth $1,180,000 after purchasing an additional 385 shares during the period. Westpac Banking Corp increased its stake in shares of CDW by 39.5% in the fourth quarter. Westpac Banking Corp now owns 773 shares of the information technology services provider's stock worth $176,000 after purchasing an additional 219 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of CDW by 1.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,578 shares of the information technology services provider's stock valued at $2,632,000 after purchasing an additional 139 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of several recent analyst reports. Barclays dropped their target price on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Finally, Northcoast Research upgraded shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $254.63.

Insider Activity

In other news, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company's stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sona Chawla sold 18,437 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christine A. Leahy purchased 1,200 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company's stock.

CDW Price Performance

CDW stock traded up $1.51 during mid-day trading on Friday, reaching $220.15. 509,680 shares of the company's stock traded hands, compared to its average volume of 829,136. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a market cap of $29.41 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.27 and a beta of 1.04. The stock has a 50 day moving average of $221.71 and a two-hundred day moving average of $231.02. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the business posted $2.43 EPS. The firm's revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW's dividend payout ratio (DPR) is 30.96%.

CDW Company 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.