CDW Corporation (CDW) Insider Neal J. Campbell Sells 2,400 Shares
CDW Corporation (NASDAQ:CDW) insider Neal J. Campbell sold 2,400 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $69.30, for a total value of $166,320.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of CDW Corporation (CDW) traded up 0.03% on Tuesday, hitting $70.30. The company had a trading volume of 882,206 shares. CDW Corporation has a 12-month low of $43.64 and a 12-month high of $71.53. The firm has a market capitalization of $10.89 billion, a P/E ratio of 26.69 and a beta of 1.08. The firm has a 50 day moving average of $63.36 and a 200-day moving average of $61.38.
CDW Corporation (NASDAQ:CDW) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. CDW Corporation’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post $3.83 EPS for the current year.
CDW Corporation announced that its board has initiated a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
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. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.91%. CDW Corporation’s payout ratio is presently 24.33%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDW. Toronto Dominion Bank raised its holdings in CDW Corporation by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 392 shares in the last quarter. Brown Advisory Securities LLC bought a new stake in CDW Corporation during the first quarter worth about $212,000. Achmea Investment Management B.V. bought a new stake in CDW Corporation during the first quarter worth about $226,000. United Services Automobile Association bought a new stake in CDW Corporation during the first quarter worth about $239,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in CDW Corporation by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock worth $262,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.
A number of research firms have recently weighed in on CDW. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Royal Bank Of Canada raised their price target 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 reaffirmed an “outperform” rating and set a $75.00 price target (up from $71.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. Finally, Barclays PLC downgraded CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price target for the company. in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $66.95.
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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