CDW Corporation (NASDAQ:CDW) insider Thomas E. Richards sold 16,861 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
CDW Corporation (NASDAQ CDW) opened at 60.52 on Wednesday. CDW Corporation has a 12 month low of $43.58 and a 12 month high of $66.33. The stock’s 50 day moving average is $62.05 and its 200-day moving average is $60.54. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 22.98 and a beta of 1.08.
CDW Corporation (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 during 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%. CDW Corporation’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. On average, analysts anticipate that CDW Corporation will post $3.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 25th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, August 23rd. CDW Corporation’s payout ratio is 24.33%.
CDW Corporation announced that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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A number of research firms have issued reports on CDW. Stifel Nicolaus restated a “buy” rating and set a $70.00 price target on shares of CDW Corporation in a report on Tuesday. BidaskClub cut shares of CDW Corporation from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. J P Morgan Chase & Co restated a “neutral” rating and set a $60.00 price target (up from $59.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and set a $71.00 price target (up from $70.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Finally, Robert W. Baird restated an “outperform” rating and set a $75.00 price target (up from $71.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.39.
Hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in shares of CDW Corporation by 24.8% during the 2nd 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 boosted its holdings in shares of CDW Corporation by 12.7% during the 1st 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. Brown Advisory Securities LLC bought a new stake in shares of CDW Corporation during the 1st quarter worth about $212,000. Commerce Bank bought a new stake in shares of CDW Corporation during the 1st quarter worth about $211,000. Finally, Financial Counselors Inc. bought a new stake in shares of CDW Corporation during the 1st quarter worth about $215,000. 90.64% of the stock is owned by institutional investors and hedge funds.
About CDW Corporation
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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