CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.20, for a total transaction of $758,400.00. Following the completion of the transaction, the insider now owns 186,130 shares in the company, valued at $11,763,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
CDW Corporation (CDW) traded down 1.71% during midday trading on Friday, reaching $60.39. 635,330 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $62.96 and its 200 day moving average price is $60.08. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 22.93 and a beta of 1.08. CDW Corporation has a 1-year low of $43.46 and a 1-year high of $66.33.
CDW Corporation (NASDAQ:CDW) last issued its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 EPS. Equities research analysts anticipate that CDW Corporation will post $3.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 25th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. CDW Corporation’s dividend payout ratio (DPR) is currently 24.33%.
CDW Corporation declared that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several brokerages recently weighed in on CDW. Barclays PLC restated an “overweight” rating and issued a $64.00 price objective (up from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Robert W. Baird restated a “buy” rating on shares of CDW Corporation in a report on Saturday, May 13th. BidaskClub upgraded shares of CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of CDW Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada increased their price objective on shares of CDW Corporation from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Three investment 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’s stock. The company currently has a consensus rating of “Buy” and an average price target of $65.94.
Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of CDW Corporation by 24.8% in the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after buying an additional 392 shares during the period. Catalyst Capital Advisors LLC increased its position in shares of CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares during the period. James Investment Research Inc. purchased a new position in shares of CDW Corporation during the first quarter worth about $153,000. Creative Planning increased its position in shares of CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares during the period. Finally, Brown Advisory Securities LLC purchased a new position in shares of CDW Corporation during the first quarter worth about $212,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
CDW Corporation Company Profile
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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