CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of CDW Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.20, for a total value of $758,400.00. Following the completion of the sale, the insider now directly owns 186,130 shares of the company’s stock, valued at $11,763,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CDW Corporation (NASDAQ:CDW) traded down 1.71% on Friday, hitting $60.39. The stock had a trading volume of 635,330 shares. The stock has a market cap of $9.35 billion, a P/E ratio of 22.93 and a beta of 1.08. The company’s 50-day moving average is $62.96 and its 200-day moving average is $60.08. CDW Corporation has a one year low of $43.46 and a one year high of $66.33.
CDW Corporation (NASDAQ:CDW) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. On average, analysts anticipate that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. CDW Corporation’s dividend payout ratio is presently 24.33%.
CDW Corporation announced that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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Several research firms recently commented on CDW. Royal Bank Of Canada boosted their target price on CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Zacks Investment Research raised CDW Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird reissued an “outperform” rating and set a $75.00 target price (up from $71.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. Barclays PLC cut CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research note on Monday, July 24th. Finally, BidaskClub cut CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Three 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. CDW Corporation currently has an average rating of “Buy” and an average price target of $65.94.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of 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 valued at $627,607,000 after buying an additional 10,727,865 shares in the last quarter. Norges Bank acquired a new stake in shares of CDW Corporation during the fourth quarter valued at $70,030,000. Pioneer Investment Management Inc. increased its stake in shares of 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 valued at $109,426,000 after buying an additional 1,198,522 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 valued at $866,571,000 after buying an additional 653,020 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of CDW Corporation during the first quarter valued at $33,968,000. 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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