Key Points
- Director David Nelms bought 18,000 shares of CDW at an average price of $111.43, increasing his stake by 54.5% to 51,025 shares worth about $5.69 million.
- CDW shares were up 8.0% and opened at $125.45, with the stock trading between a 52-week low of $97.12 and high of $185.16.
- The company recently reported solid quarterly results, matching EPS estimates at $2.28 and topping revenue expectations with $5.68 billion, while also announcing a quarterly dividend of $0.63 per share.
CDW Corporation (NASDAQ:CDW - Get Free Report) Director David Nelms purchased 18,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director owned 51,025 shares of the company's stock, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
CDW Trading Up 8.0%
Shares of CDW stock opened at $125.45 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06. The firm has a fifty day moving average price of $120.77 and a 200 day moving average price of $129.25. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $185.16. The stock has a market cap of $16.03 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.
CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.48 billion. During the same quarter last year, the company posted $2.15 earnings per share. The firm's revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that CDW Corporation will post 10 earnings per share for the current year.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 22nd. CDW's dividend payout ratio (DPR) is 30.66%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDW. Root Financial Partners LLC purchased a new position in CDW in the third quarter valued at $26,000. Hollencrest Capital Management grew its position in shares of CDW by 909.1% in the first 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 during the period. eCIO Inc. acquired a new stake in shares of CDW in the fourth quarter valued at about $61,000. Covestor Ltd grew its position in shares of 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 purchasing an additional 258 shares during the period. Finally, American National Bank & Trust acquired a new stake in shares of CDW in the fourth quarter valued at about $110,000. Hedge funds and other institutional investors own 93.15% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on CDW shares. Raymond James Financial set a $150.00 target price on shares of CDW in a report on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of CDW from $141.00 to $142.00 and gave the company an "equal weight" rating in a report on Thursday, February 5th. UBS Group cut their price objective on shares of CDW from $162.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Citigroup cut their price objective on shares of CDW from $150.00 to $123.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of CDW from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.63.
Get Our Latest Report on CDW
CDW Company Profile
(
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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.
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