Insider Selling: CDW Corporation (CDW) Insider Sells 16,077 Shares of Stock
CDW Corporation (NASDAQ:CDW) insider Thomas E. Richards sold 16,077 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $61.92, for a total value of $995,487.84. Following the completion of the transaction, the insider now owns 731,792 shares of the company’s stock, valued at approximately $45,312,560.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CDW Corporation (NASDAQ CDW) traded down 0.70% during mid-day trading on Thursday, reaching $61.44. The company’s stock had a trading volume of 744,322 shares. The firm has a 50-day moving average of $63.08 and a 200 day moving average of $60.00. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.33 and a beta of 1.08. CDW Corporation has a 1-year low of $43.46 and a 1-year high of $66.33.
CDW Corporation (NASDAQ:CDW) last posted its quarterly 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 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%. CDW Corporation’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. Equities analysts expect that CDW Corporation will post $3.83 earnings per share for the current year.
CDW Corporation declared that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 23rd. CDW Corporation’s payout ratio is 24.33%.
A number of hedge funds and other institutional investors have recently modified their holdings of CDW. ProShare Advisors LLC purchased a new position in shares of CDW Corporation during the first quarter valued at $232,000. Korea Investment CORP raised its position in shares of CDW Corporation by 59.9% in the first quarter. Korea Investment CORP now owns 196,200 shares of the information technology services provider’s stock valued at $11,323,000 after buying an additional 73,500 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new position in shares of CDW Corporation during the first quarter valued at $3,382,000. V Wealth Management LLC raised its position in shares of CDW Corporation by 4.5% in the first quarter. V Wealth Management LLC now owns 40,429 shares of the information technology services provider’s stock valued at $2,336,000 after buying an additional 1,730 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of CDW Corporation during the first quarter valued at $153,000. 91.48% of the stock is currently owned by institutional investors.
A number of research firms recently commented on CDW. J P Morgan Chase & Co reiterated a “neutral” rating and set a $60.00 price objective (up previously from $59.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $71.00 price objective (up previously from $70.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $75.00 price objective (up previously from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Zacks Investment Research upgraded CDW Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. CDW Corporation has a consensus rating of “Buy” and an average price target of $65.94.
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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