CDW Corp (NASDAQ:CDW) insider Thomas E. Richards sold 15,733 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $63.49, for a total value of $998,888.17. Following the transaction, the insider now owns 747,869 shares of the company’s stock, valued at $47,482,202.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
CDW Corp (NASDAQ CDW) traded up 0.31% during mid-day trading on Wednesday, reaching $61.87. The company had a trading volume of 299,254 shares. The company’s 50 day moving average is $63.11 and its 200 day moving average is $59.98. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.49 and a beta of 1.08. CDW Corp has a 52-week low of $43.46 and a 52-week high of $66.33.
CDW Corp (NASDAQ:CDW) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. CDW Corp had a return on equity of 64.40% and a net margin of 3.53%. CDW Corp’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. Equities analysts predict that CDW Corp will post $3.83 earnings per share for the current year.
CDW Corp announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, August 23rd. CDW Corp’s dividend payout ratio (DPR) is presently 24.33%.
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A number of research analysts have recently issued reports on the company. Zacks Investment Research raised CDW Corp from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub lowered CDW Corp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Robert W. Baird restated a “buy” rating on shares of CDW Corp in a research note on Saturday, May 13th. Northcoast Research began coverage on CDW Corp in a research note on Monday, April 24th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $70.00 price target on shares of CDW Corp in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $65.94.
Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in shares of CDW Corp by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,059 shares of the information technology services provider’s stock worth $504,000 after buying an additional 21 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in CDW Corp by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock worth $262,000 after buying an additional 58 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of CDW Corp by 1.1% in the first quarter. CENTRAL TRUST Co now owns 6,183 shares of the information technology services provider’s stock worth $357,000 after buying an additional 65 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of CDW Corp by 1.4% in the first quarter. Raymond James Trust N.A. now owns 5,969 shares of the information technology services provider’s stock worth $344,000 after buying an additional 83 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in shares of CDW Corp by 2.1% in the first quarter. Atria Investments LLC now owns 3,962 shares of the information technology services provider’s stock worth $229,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 91.48% of the company’s stock.
About CDW Corp
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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