Texas Permanent School Fund Corp Has $4.96 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Texas Permanent School Fund Corp decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CDW. Tsfg LLC purchased a new stake in shares of CDW in the first quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in shares of CDW in the first quarter valued at about $34,000. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter valued at about $34,000. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at about $35,000. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW in the second quarter valued at about $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW opened at $218.64 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The firm has a market cap of $29.38 billion, a P/E ratio of 27.30, a PEG ratio of 3.22 and a beta of 1.04. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The firm has a 50-day moving average of $221.71 and a 200 day moving average of $231.02.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. On average, research analysts expect that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW’s dividend payout ratio is presently 30.96%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

CDW has been the subject of several analyst reports. 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 report on Friday, June 7th. Barclays lowered 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. Finally, Stifel Nicolaus increased their price target 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.63.

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.