CDW Corporation (CDW) Insider Sells $429,068.00 in Stock
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 transaction, the insider now directly owns 90,366 shares of the company’s stock, valued at $5,787,038.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
CDW Corporation (CDW) traded up 0.03% during mid-day trading on Tuesday, reaching $63.83. 472,670 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.03 billion, a P/E ratio of 25.97 and a beta of 1.08. CDW Corporation has a one year low of $43.46 and a one year high of $66.33. The company’s 50-day moving average is $63.31 and its 200 day moving average is $59.35.
CDW Corporation (NASDAQ:CDW) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 56.91%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. Equities analysts predict that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 25th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 23rd. CDW Corporation’s payout ratio is 24.33%.
CDW Corporation announced that its board has approved a stock buyback plan on Thursday, August 3rd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
A number of brokerages recently issued reports on CDW. BidaskClub cut shares of CDW Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered shares of CDW Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. Robert W. Baird set a $71.00 price objective on shares of CDW Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $64.00 price objective on shares of CDW Corporation in a research note on Monday, April 17th. Finally, Northcoast Research began coverage on shares of CDW Corporation in a research note on Monday, April 24th. They set a “buy” rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.06.
Several hedge funds have recently added to or reduced their stakes in CDW. JPMorgan Chase & Co. raised its stake 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 valued at $276,266,000 after buying an additional 549,088 shares during the last quarter. Bank of Montreal Can raised its stake in CDW Corporation by 7.3% in the first quarter. Bank of Montreal Can now owns 319,939 shares of the information technology services provider’s stock valued at $18,464,000 after buying an additional 21,891 shares during the last quarter. CFO4Life Group LLC purchased a new stake in CDW Corporation during the first quarter valued at approximately $435,000. Xact Kapitalforvaltning AB raised its stake in CDW Corporation by 8.1% in the second quarter. Xact Kapitalforvaltning AB now owns 46,688 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 3,505 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in CDW Corporation during the first quarter valued at approximately $232,000. 91.06% 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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