CDW Corporation (CDW) Insider Sells $990,246.53 in Stock
CDW Corporation (NASDAQ:CDW) insider Thomas E. Richards sold 16,861 shares of CDW Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $58.73, for a total value of $990,246.53. Following the completion of the sale, the insider now directly owns 714,931 shares in the company, valued at approximately $41,987,897.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
CDW Corporation (NASDAQ:CDW) opened at 61.31 on Thursday. The stock has a market cap of $9.49 billion, a PE ratio of 23.28 and a beta of 1.08. CDW Corporation has a 12-month low of $43.64 and a 12-month high of $66.33. The company’s 50-day moving average price is $61.97 and its 200-day moving average price is $60.55.
CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating 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 firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts expect that CDW Corporation will post $3.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 25th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 1.04%. CDW Corporation’s payout ratio is 24.33%.
CDW Corporation declared that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently commented on the company. Robert W. Baird reiterated an “outperform” rating and issued a $75.00 target price (up previously from $71.00) on shares of CDW Corporation in a report on Wednesday, August 9th. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada restated an “outperform” rating and set a $71.00 price objective (up previously from $70.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Zacks Investment Research upgraded CDW Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $70.00 price objective on shares of CDW Corporation in a report on Tuesday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $66.39.
A number of institutional investors have recently modified their holdings of CDW. ProShare Advisors LLC purchased a new position in CDW Corporation in the first quarter worth approximately $232,000. Russell Investments Group Ltd. grew its position in CDW Corporation by 49.5% in the first quarter. Russell Investments Group Ltd. now owns 16,184 shares of the information technology services provider’s stock worth $935,000 after acquiring an additional 5,357 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in CDW Corporation by 18.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,371 shares of the information technology services provider’s stock worth $656,000 after acquiring an additional 1,750 shares during the period. Great West Life Assurance Co. Can grew its position in CDW Corporation by 4.7% in the first quarter. Great West Life Assurance Co. Can now owns 46,623 shares of the information technology services provider’s stock worth $2,688,000 after acquiring an additional 2,072 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its position in CDW Corporation by 11.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 6,768 shares of the information technology services provider’s stock worth $391,000 after acquiring an additional 692 shares during the period. Institutional investors own 90.64% of the company’s stock.
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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