Insider Selling: CDW (NASDAQ:CDW) Insider Sells 26,695 Shares

CDW Corporation (NASDAQ:CDW) insider Elizabeth Connelly sold 26,695 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

CDW Trading Down 0.8%

NASDAQ CDW traded down $1.06 during trading on Tuesday, hitting $135.37. The stock had a trading volume of 1,264,938 shares, compared to its average volume of 1,916,531. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $16.92 billion, a PE ratio of 16.27, a PEG ratio of 1.80 and a beta of 0.96. The firm has a 50 day moving average price of $135.90 and a 200 day moving average price of $127.75. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that CDW Corporation will post 10.21 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. CDW’s dividend payout ratio is 30.29%.

Institutional Investors Weigh In On CDW

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management raised its holdings in shares of CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of CDW during the second quarter worth $28,000. Root Financial Partners LLC increased 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 buying an additional 93 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in CDW in the second quarter valued at $51,000. Finally, Covestor Ltd raised its stake in CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 258 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Raymond James Financial set a $150.00 target price on CDW in a research note on Wednesday, May 6th. Citigroup upped their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.