David Nelms Buys 18,000 Shares of CDW (NASDAQ:CDW) Stock

CDW Corporation (NASDAQ:CDW) Director David Nelms acquired 18,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the purchase, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. The trade was a 54.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CDW Stock Up 8.0%

Shares of NASDAQ:CDW opened at $125.45 on Friday. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $185.16. The stock has a fifty day simple moving average of $120.77 and a two-hundred day simple moving average of $129.25. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.70 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business earned $2.15 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, research analysts anticipate that CDW Corporation will post 10.08 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be paid a $0.63 dividend. The ex-dividend date is Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. CDW’s payout ratio is currently 30.66%.

Institutional Trading of CDW

Large investors have recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of CDW in the third quarter worth $26,000. Hollencrest Capital Management grew its holdings in shares of CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares during the period. eCIO Inc. bought a new stake in shares of CDW in the fourth quarter worth $61,000. Covestor Ltd grew its holdings in shares of CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 258 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of CDW in the fourth quarter worth $110,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDW. Barclays decreased their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Citigroup decreased their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Wednesday. Finally, UBS Group decreased their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.63.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.