CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $61.33, for a total transaction of $735,960.00. Following the completion of the sale, the insider now owns 198,130 shares of the company’s stock, valued at approximately $12,151,312.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of CDW Corporation (NASDAQ CDW) traded down 0.19% during trading on Friday, reaching $61.94. 1,175,079 shares of the company’s stock were exchanged. CDW Corporation has a 52 week low of $38.89 and a 52 week high of $63.20. The company’s 50-day moving average is $59.73 and its 200 day moving average is $56.76. The stock has a market capitalization of $9.73 billion, a PE ratio of 25.20 and a beta of 1.08.
CDW Corporation (NASDAQ:CDW) last posted its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.24 billion. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. On average, analysts forecast that CDW Corporation will post $3.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Thursday, May 25th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Tuesday, May 23rd. CDW Corporation’s payout ratio is 26.23%.
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Several analysts recently commented on the stock. Robert W. Baird upgraded shares of CDW Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $63.00 to $71.00 in a research report on Tuesday, May 9th. Zacks Investment Research downgraded shares of CDW Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $64.00 price target on shares of CDW Corporation in a research report on Monday, April 17th. Northcoast Research assumed coverage on shares of CDW Corporation in a research report on Monday, April 24th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Barclays PLC reiterated an “overweight” rating and issued a $64.00 price target (up previously from $62.00) on shares of CDW Corporation in a research report on Monday, May 1st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. CDW Corporation has an average rating of “Buy” and a consensus price target of $61.17.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in CDW Corporation by 7,281.8% in the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock worth $627,607,000 after buying an additional 10,727,865 shares during the last quarter. Norges Bank bought a new stake in CDW Corporation during the fourth quarter worth about $70,030,000. Pioneer Investment Management Inc. boosted its stake in CDW Corporation by 171.8% in the first quarter. Pioneer Investment Management Inc. now owns 1,896,131 shares of the information technology services provider’s stock worth $109,426,000 after buying an additional 1,198,522 shares during the last quarter. Vanguard Group Inc. boosted its stake in CDW Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock worth $866,571,000 after buying an additional 653,020 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in CDW Corporation during the first quarter worth about $33,968,000. Institutional investors own 90.84% of the company’s stock.
About CDW Corporation
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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