CDW Corporation (NASDAQ:CDW) declared a quarterly dividend on Thursday, August 3rd, Zacks reports. Investors of record on Friday, August 25th will be paid a dividend of 0.16 per share by the information technology services provider on Monday, September 11th. This represents a $0.64 annualized dividend and a yield of 0.99%. The ex-dividend date is Wednesday, August 23rd.

Shares of CDW Corporation (CDW) traded down 1.24% during trading on Friday, reaching $63.55. 227,220 shares of the company traded hands. The stock has a market capitalization of $9.98 billion, a PE ratio of 25.85 and a beta of 1.08. CDW Corporation has a 52 week low of $42.80 and a 52 week high of $66.33. The firm has a 50 day moving average of $63.13 and a 200 day moving average of $59.25.

CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. CDW Corporation had a net margin of 2.85% and a return on equity of 55.44%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. On average, equities analysts predict that CDW Corporation will post $3.82 EPS for the current year.

A number of equities analysts have commented on CDW shares. Zacks Investment Research raised shares of CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of CDW Corporation in a research note on Friday, May 19th. Northcoast Research started coverage on shares of CDW Corporation in a research note on Monday, April 24th. They set a “buy” rating and a $70.00 target price on the stock. Robert W. Baird reaffirmed a “hold” rating on shares of CDW Corporation in a research note on Wednesday, May 3rd. Finally, Barclays PLC downgraded shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price on the stock. in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. CDW Corporation presently has a consensus rating of “Buy” and an average target price of $62.28.

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In other CDW Corporation news, insider Christina M. Corley sold 4,000 shares of CDW Corporation stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $59.01, for a total transaction of $236,040.00. Following the completion of the sale, the insider now directly owns 71,843 shares in the company, valued at $4,239,455.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas E. Richards sold 15,733 shares of CDW Corporation stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $63.49, for a total transaction of $998,888.17. Following the sale, the insider now owns 747,869 shares of the company’s stock, valued at $47,482,202.81. The disclosure for this sale can be found here. Insiders have sold 77,133 shares of company stock worth $4,757,684 over the last ninety days. 2.20% of the stock is owned by insiders.

CDW Corporation declared that its board has authorized a stock buyback program on Thursday, August 3rd that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.

Dividend History for CDW Corporation (NASDAQ:CDW)

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