CDW Corp. (CDW) To Go Ex-Dividend on November 22nd
CDW Corp. (NASDAQ:CDW) declared a quarterly dividend on Wednesday, November 2nd. Stockholders of record on Friday, November 25th will be given a dividend of 0.16 per share on Monday, December 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, November 22nd. This is a positive change from CDW Corp.’s previous quarterly dividend of $0.11.
CDW Corp. (NASDAQ:CDW) opened at 51.43 on Monday. The stock’s 50 day moving average is $45.58 and its 200-day moving average is $43.59. CDW Corp. has a 1-year low of $30.40 and a 1-year high of $52.30. The company has a market capitalization of $8.25 billion, a P/E ratio of 20.92 and a beta of 0.96.
CDW Corp. (NASDAQ:CDW) last issued its earnings results on Wednesday, November 2nd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. CDW Corp. had a net margin of 2.95% and a return on equity of 50.73%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. CDW Corp.’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that CDW Corp. will post $3.38 earnings per share for the current fiscal year.
A number of brokerages have commented on CDW. Zacks Investment Research downgraded shares of CDW Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Deutsche Bank AG lifted their target price on shares of CDW Corp. from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Robert W. Baird reaffirmed a “hold” rating on shares of CDW Corp. in a research note on Wednesday, November 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $50.00 target price on shares of CDW Corp. in a research note on Thursday, November 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of CDW Corp. from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 16th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.88.
In related news, insider Douglas E. Eckrote sold 80,000 shares of CDW Corp. stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $44.04, for a total value of $3,523,200.00. Following the completion of the transaction, the insider now owns 179,089 shares in the company, valued at $7,887,079.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in shares of CDW Corp. by 3.1% in the second quarter. Janney Montgomery Scott LLC now owns 55,237 shares of the company’s stock worth $2,322,000 after buying an additional 1,650 shares during the period. AXA boosted its position in shares of CDW Corp. by 42.0% in the second quarter. AXA now owns 68,248 shares of the company’s stock worth $2,735,000 after buying an additional 20,174 shares during the period. Alliancebernstein L.P. boosted its position in shares of CDW Corp. by 0.3% in the second quarter. Alliancebernstein L.P. now owns 1,576,940 shares of the company’s stock worth $63,204,000 after buying an additional 4,354 shares during the period. GAM Holding AG boosted its position in shares of CDW Corp. by 42.0% in the second quarter. GAM Holding AG now owns 7,436 shares of the company’s stock worth $298,000 after buying an additional 2,198 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of CDW Corp. during the second quarter worth $756,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
CDW Corp. Company Profile
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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