CDW Corp (CDW) Insider Thomas E. Richards Sells 14,368 Shares
CDW Corp (NASDAQ:CDW) insider Thomas E. Richards sold 14,368 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $68.50, for a total transaction of $984,208.00. Following the completion of the transaction, the insider now owns 670,391 shares in the company, valued at $45,921,783.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of CDW Corp (CDW) traded up $0.85 on Friday, hitting $68.45. 1,534,917 shares of the stock were exchanged, compared to its average volume of 716,529. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 4.20. The stock has a market capitalization of $10,347.04, a price-to-earnings ratio of 19.10 and a beta of 1.06. CDW Corp has a twelve month low of $50.49 and a twelve month high of $71.53.
CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.99 billion. CDW had a net margin of 2.90% and a return on equity of 62.71%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. analysts expect that CDW Corp will post 3.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a positive change from CDW’s previous quarterly dividend of $0.16. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.23%. CDW’s dividend payout ratio (DPR) is 31.11%.
Several institutional investors and hedge funds have recently made changes to their positions in CDW. Lloyds Banking Group plc acquired a new stake in shares of CDW during the third quarter worth $108,000. Toronto Dominion Bank lifted its holdings in shares of CDW by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 392 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in shares of CDW during the third quarter worth $257,000. Financial Counselors Inc. lifted its holdings in shares of CDW by 16.7% during the second quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock worth $271,000 after purchasing an additional 621 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of CDW by 110.9% during the third quarter. Nordea Investment Management AB now owns 7,184 shares of the information technology services provider’s stock worth $474,000 after purchasing an additional 3,777 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.
CDW has been the topic of several recent analyst reports. Barclays reiterated a “hold” rating and issued a $69.00 price target on shares of CDW in a research note on Sunday, November 5th. Raymond James Financial lowered shares of CDW from a “market perform” rating to an “underperform” rating in a research note on Friday, October 13th. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Morgan Stanley raised their target price on shares of CDW from $58.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. CDW presently has a consensus rating of “Buy” and an average price target of $67.85.
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CDW 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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