Key Points
- CDW insider Elizabeth Connelly sold 26,695 shares at an average price of $137.62, generating approximately $3.67 million. The transaction reduced her holdings by 43.83%, leaving her with 34,215 shares.
- CDW exceeded quarterly expectations, reporting $2.91 in EPS versus the $2.80 consensus and revenue of $6.57 billion, up 10% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 1.9% yield.
- Analysts give CDW a consensus “Moderate Buy” rating with a $147 price target, while institutional investors own 93.15% of the company’s shares.
CDW Corporation (NASDAQ:CDW - Get Free Report) insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CDW Stock Performance
CDW stock opened at $135.37 on Wednesday. The firm has a fifty day simple moving average of $135.81 and a two-hundred day simple moving average of $127.81. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55. The company has a market capitalization of $16.92 billion, a PE ratio of 16.27, a P/E/G ratio of 1.81 and a beta of 0.96.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion for the quarter, compared to analysts' expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.60 earnings per share. Research analysts expect that CDW Corporation will post 10.21 EPS for the current year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 annualized dividend and a yield of 1.9%. CDW's dividend payout ratio is currently 30.29%.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Royal Bank Of Canada raised CDW to an "outperform" rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of CDW from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley raised their price target on shares of CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.
View Our Latest Report on CDW
Institutional Investors Weigh In On CDW
A number of large investors have recently made changes to their positions in CDW. Callan Family Office LLC purchased a new position in shares of CDW during the second quarter valued at approximately $659,000. Keating Financial Advisory Services Inc. purchased a new stake in CDW in the second quarter worth $28,000. Allworth Financial LP purchased a new stake in CDW in the second quarter worth $166,000. B. Metzler seel. Sohn & Co. AG bought a new stake in CDW in the second quarter valued at $6,372,000. Finally, Vise Technologies Inc. bought a new stake in CDW in the second quarter valued at $267,000. 93.15% of the stock is currently owned by institutional investors.
CDW Company Profile
(
Get Free Report)
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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