Christine A. Leahy Sells 12,000 Shares of CDW Corporation (CDW) Stock
CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $61.33, for a total value of $735,960.00. Following the sale, the insider now directly owns 198,130 shares of the company’s stock, valued at approximately $12,151,312.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
CDW Corporation (NASDAQ CDW) opened at 62.57 on Tuesday. CDW Corporation has a 12 month low of $38.89 and a 12 month high of $63.20. The stock has a market capitalization of $9.83 billion, a P/E ratio of 25.46 and a beta of 1.08. The stock has a 50 day moving average price of $59.89 and a 200 day moving average price of $56.99.
CDW Corporation (NASDAQ:CDW) last posted its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts predict that CDW Corporation will post $3.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Thursday, May 25th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, May 23rd. CDW Corporation’s dividend payout ratio (DPR) is presently 26.23%.
Several large investors have recently bought and sold shares of CDW. Catalyst Capital Advisors LLC boosted its stake in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares during the period. James Investment Research Inc. acquired a new stake in CDW Corporation during the first quarter worth approximately $153,000. Creative Planning boosted its stake in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares during the period. Commerce Bank acquired a new stake in CDW Corporation during the first quarter worth approximately $211,000. Finally, Brown Advisory Securities LLC acquired a new stake in CDW Corporation during the first quarter worth approximately $212,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.
CDW has been the subject of several recent research reports. Needham & Company LLC boosted their price target on CDW Corporation from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Zacks Investment Research lowered CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, April 17th. Robert W. Baird reissued a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Barclays PLC reissued an “overweight” rating and set a $64.00 price target (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $64.00 price target on shares of CDW Corporation in a report on Friday, May 19th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.17.
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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