CDW Co. (NASDAQ: CDW) insider sells $ 573,546.00 in shares
CDW Co. (NASDAQ: CDW) insider Christina M. Corley sold 3,400 shares of the company in a trade that took place on Friday, June 18. The stock was sold for an average price of $ 168.69, for a total trade of $ 573,546.00. As a result of the transaction, the insider now directly owns 44,135 shares of the company, valued at $ 7,445,133.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website.
NASDAQ: CDW traded up $ 3.95 at midday Monday, reaching $ 169.73. The stock had a trading volume of 592,626 shares, compared to its average volume of 831,253. The company has a 50-day simple moving average of $ 172.18. The stock has a market cap of $ 23.80 billion, a PE ratio of 28.67, a PEG ratio of 1.82 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 1.47, and a debt ratio of 3.34. CDW Co. has a 12-month low of $ 105.87 and a 12-month high of $ 184.58.
CDW (NASDAQ: CDW) last released its results on Wednesday, May 5. The IT services provider reported earnings per share of $ 1.74 for the quarter, beating analyst consensus estimates of $ 1.49 by $ 0.25. CDW had a net margin of 4.51% and a return on equity of 83.86%. The company posted revenue of $ 4.84 billion for the quarter, compared to $ 4.58 billion according to analysts’ estimates. In the same quarter of last year, the company posted earnings per share of $ 1.38. The company’s quarterly revenue increased 10.2% year-over-year. Sell-side analysts expect CDW Co. to post earnings per share of 7.07 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 10. Shareholders of record on Tuesday, May 25, received a dividend of $ 0.40. The ex-dividend date was Monday May 24. This represents a dividend of $ 1.60 on an annualized basis and a return of 0.94%. CDW’s dividend payout ratio is currently 24.43%.
Several brokerages recently commented on CDW. Morgan Stanley raised its target price on CDW shares from $ 188.00 to $ 190.00 and assigned the stock an “overweight” rating in a report released on Wednesday, April 14. Zacks Investment Research downgraded CDW’s stock from a “buy” rating to a “keep” rating and set a target price of $ 172.00 for the stock. in a report on Thursday, May 13. Credit Suisse Group raised its price target on CDW shares from $ 175.00 to $ 200.00 and gave the company an “outperformance” rating in a research note on Thursday, May 6. Citigroup raised its price target on CDW shares from $ 175.00 to $ 210.00 in a research note on Thursday, May 6. Finally, Citigroup Inc. Russell-based 3% minimum coupon principal protected raised its price target on CDW shares from $ 175.00 to $ 210.00 in a research note on Thursday, May 6. One analyst rated the stock with a conservation rating and five gave the company’s stock a buy rating. The stock currently has an average rating of “Buy” and a consensus target price of $ 181.00.
Institutional investors have recently changed their holdings in the company. The Oregon Public Employees Retirement Fund increased its position in CDW by 2.2% in the first quarter. The Oregon Public Employees Retirement Fund now owns 26,974 shares of the IT service provider, valued at $ 4,471,000, after buying 582 more shares in the last quarter. Vident Investment Advisory LLC strengthened its position in CDW by 12.1% in the fourth quarter. Vident Investment Advisory LLC now owns 11,604 shares of the IT service provider valued at $ 1,530,000 after purchasing an additional 1,253 shares in the last quarter. The Louisiana state employee pension system strengthened its position in CDW by 5.3% in the first quarter. The Louisiana State Employee Retirement System now owns 16,000 shares of the IT service provider valued at $ 2,652,000 after purchasing an additional 800 shares in the last quarter. Janney Montgomery Scott LLC increased its position in CDW by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 83,892 shares of the IT service provider valued at $ 13,905,000 after purchasing an additional 2,784 shares in the last quarter. Finally, Pensionfund DSM Netherlands strengthened its position in CDW by 15.3% in the first quarter. The DSM Netherlands pension fund now owns 22,600 shares of the IT service provider valued at $ 3,746,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors hold 91.02% of the company’s shares.
CDW Corporation provides integrated information technology (IT) solutions to businesses, governments, educational institutions and healthcare customers in the United States, United Kingdom and Canada. It operates through three segments: Corporate, Small Business and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including on-premises, hybrid and cloud capabilities in data centers and networks, digital workspace, security and virtualization.
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