Insider Selling: CDW Corporation (CDW) Insider Sells $723,120.00 in Stock
CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $60.26, for a total value of $723,120.00. Following the completion of the transaction, the insider now owns 162,130 shares of the company’s stock, valued at $9,769,953.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of CDW Corporation (NASDAQ CDW) opened at 61.89 on Friday. CDW Corporation has a 12 month low of $43.64 and a 12 month high of $66.33. The company has a market capitalization of $9.58 billion, a PE ratio of 23.50 and a beta of 1.08. The firm has a 50-day moving average price of $61.79 and a 200-day moving average price of $60.58.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts predict that CDW Corporation will post $3.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 25th were issued 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 1.03%. CDW Corporation’s dividend payout ratio is presently 24.33%.
CDW Corporation declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Catalyst Capital Advisors LLC increased its stake in shares of CDW Corporation by 12.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 235 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of CDW Corporation by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the last quarter. Commerce Bank bought a new position in shares of CDW Corporation in the 1st quarter valued at $211,000. Brown Advisory Securities LLC bought a new position in shares of CDW Corporation in the 1st quarter valued at $212,000. Finally, Financial Counselors Inc. bought a new position in shares of CDW Corporation in the 1st quarter valued at $215,000. 90.64% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on CDW shares. Zacks Investment Research upgraded CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $60.00 price target (up from $59.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. BidaskClub cut CDW Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $75.00 price target (up from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $70.00 price target on shares of CDW Corporation in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. CDW Corporation currently has an average rating of “Buy” and an average target price of $66.39.
About CDW Corporation
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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