CDW Corporation (CDW) Insider Sells $315,600.00 in Stock
CDW Corporation (NASDAQ:CDW) insider Neal J. Campbell sold 5,000 shares of CDW Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $63.12, for a total transaction of $315,600.00. Following the completion of the sale, the insider now directly owns 54,417 shares in the company, valued at approximately $3,434,801.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
CDW Corporation (NASDAQ CDW) traded down 1.44% on Wednesday, reaching $62.91. 579,718 shares of the company were exchanged. CDW Corporation has a 12-month low of $43.46 and a 12-month high of $66.33. The firm has a market capitalization of $9.88 billion, a P/E ratio of 25.59 and a beta of 1.08. The firm has a 50-day moving average of $63.13 and a 200 day moving average of $59.25.
CDW Corporation (NASDAQ:CDW) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post $3.83 earnings per share for the current year.
CDW Corporation declared that its board has authorized a stock buyback program on Thursday, August 3rd that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm 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 $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 1.02%. CDW Corporation’s payout ratio is presently 24.33%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Catalyst Capital Advisors LLC increased its position 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 valued at $120,000 after buying an additional 235 shares during the last quarter. James Investment Research Inc. acquired a new position in CDW Corporation during the first quarter valued at $153,000. Creative Planning increased its position 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 valued at $188,000 after buying an additional 2,090 shares during the last quarter. Brown Advisory Securities LLC acquired a new position in CDW Corporation during the first quarter valued at $212,000. Finally, Commerce Bank acquired a new position in CDW Corporation during the first quarter valued at $211,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
A number of research firms recently commented on CDW. Barclays PLC reaffirmed an “overweight” rating and issued a $64.00 price target (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Zacks Investment Research cut shares of CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, April 17th. Robert W. Baird reaffirmed a “buy” rating on shares of CDW Corporation in a report on Saturday, May 13th. BidaskClub raised shares of CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $71.00 price target (up previously from $70.00) on shares of CDW Corporation in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.69.
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.
Receive News & Ratings for CDW Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW Corporation and related companies with MarketBeat.com's FREE daily email newsletter.