CDW Corporation (NASDAQ:CDW) insider Jonathan J. Stevens sold 6,700 shares of CDW Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $64.04, for a total transaction of $429,068.00. Following the completion of the sale, the insider now owns 90,366 shares in the company, valued at $5,787,038.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of CDW Corporation (CDW) opened at 60.39 on Friday. CDW Corporation has a 12-month low of $43.46 and a 12-month high of $66.33. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 22.93 and a beta of 1.08. The stock has a 50 day moving average of $62.96 and a 200 day moving average of $60.08.
CDW Corporation (NASDAQ:CDW) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share 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 analyst estimates of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. On average, equities analysts expect that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
The firm also recently disclosed 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 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 is currently 24.33%.
CDW Corporation announced that its Board of Directors has authorized a share buyback program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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Several research firms have recently weighed in on CDW. Royal Bank Of Canada lifted their target price on shares of CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Zacks Investment Research raised shares of CDW Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $75.00 price objective (up from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Barclays PLC downgraded shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a research report on Monday, July 24th. Finally, BidaskClub downgraded shares of CDW Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $65.94.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in CDW Corporation by 7,281.8% in the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock worth $627,607,000 after buying an additional 10,727,865 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in CDW Corporation by 171.8% in the first quarter. Pioneer Investment Management Inc. now owns 1,896,131 shares of the information technology services provider’s stock worth $109,426,000 after buying an additional 1,198,522 shares during the last quarter. Vanguard Group Inc. boosted its position in CDW Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock worth $866,571,000 after buying an additional 653,020 shares during the last quarter. Renaissance Technologies LLC purchased a new position in CDW Corporation during the first quarter worth approximately $33,968,000. Finally, JPMorgan Chase & Co. boosted its position in CDW Corporation by 13.0% in the first quarter. JPMorgan Chase & Co. now owns 4,787,140 shares of the information technology services provider’s stock worth $276,266,000 after buying an additional 549,088 shares during the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.
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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