CDW Corporation (NASDAQ:CDW) declared a quarterly dividend on Wednesday, November 1st, Zacks reports. Stockholders of record on Friday, November 24th will be paid a dividend of 0.21 per share by the information technology services provider on Monday, December 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from CDW Corporation’s previous quarterly dividend of $0.16.
Shares of CDW Corporation (NASDAQ:CDW) traded up $0.10 during trading hours on Friday, hitting $67.26. The stock had a trading volume of 950,300 shares, compared to its average volume of 816,592. The firm has a market cap of $10,279.70, a P/E ratio of 18.97 and a beta of 1.08. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15. CDW Corporation has a 12 month low of $44.54 and a 12 month high of $71.53.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.99 billion. CDW Corporation had a return on equity of 62.71% and a net margin of 2.90%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. research analysts predict that CDW Corporation will post 3.64 EPS for the current fiscal year.
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A number of analysts recently commented on the company. Zacks Investment Research raised CDW Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Morgan Stanley boosted their target price on CDW Corporation from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $75.00 target price (up from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 target price on shares of CDW Corporation in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $67.85.
In other news, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $69.94, for a total value of $839,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Neal J. Campbell sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $59.78, for a total value of $143,472.00. Following the completion of the transaction, the insider now directly owns 29,679 shares of the company’s stock, valued at $1,774,210.62. The disclosure for this sale can be found here. Insiders have sold a total of 140,788 shares of company stock valued at $9,208,767 over the last three months. Corporate insiders own 2.60% of the company’s stock.
CDW Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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