CDW Corporation (NASDAQ:CDW) Announces Quarterly Dividend of $0.63

CDW Corporation (NASDAQ:CDW) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Tuesday, August 25th will be paid a dividend of 0.63 per share by the information technology services provider on Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th.

CDW has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 10 years. CDW has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CDW to earn $11.27 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 22.4%.

CDW Price Performance

CDW stock traded down $13.90 during midday trading on Wednesday, reaching $140.10. The stock had a trading volume of 5,810,704 shares, compared to its average volume of 1,913,677. CDW has a 52-week low of $97.12 and a 52-week high of $171.55. 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 company’s fifty day simple moving average is $134.75 and its 200 day simple moving average is $127.52. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. As a group, sell-side analysts predict that CDW will post 10.21 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David W. Nelms acquired 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the transaction, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of CDW

Several hedge funds have recently made changes to their positions in CDW. Hollencrest Capital Management increased its holdings in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new position in CDW in the second quarter valued at approximately $28,000. Root Financial Partners LLC lifted its holdings in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Covestor Ltd grew its position in 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, Brown Brothers Harriman & Co. grew its position in CDW by 38.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.