Insider Selling: CDW Corporation (CDW) Insider Sells $413,926.00 in Stock
CDW Corporation (NASDAQ:CDW) insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $61.78, for a total value of $413,926.00. Following the transaction, the insider now owns 86,366 shares of the company’s stock, valued at approximately $5,335,691.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of CDW Corporation (CDW) opened at 58.96 on Friday. CDW Corporation has a one year low of $43.46 and a one year high of $66.33. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 22.38 and a beta of 1.08. The stock has a 50 day moving average price of $62.15 and a 200 day moving average price of $60.53.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. On average, equities research analysts forecast that CDW Corporation will post $3.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 25th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.09%. CDW Corporation’s payout ratio is 24.33%.
CDW Corporation declared that its Board of Directors has approved a share buyback plan on Thursday, August 3rd that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the business. Catalyst Capital Advisors LLC boosted its position in shares of CDW Corporation by 12.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 235 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of CDW Corporation by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 392 shares during the last quarter. Commerce Bank bought a new position in shares of CDW Corporation in the 1st quarter worth $211,000. Brown Advisory Securities LLC bought a new position in shares of CDW Corporation in the 1st quarter worth $212,000. Finally, Financial Counselors Inc. bought a new position in shares of CDW Corporation in the 1st quarter worth $215,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered CDW Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of CDW Corporation in a report on Friday, May 19th. Barclays PLC lowered CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective for the company. in a report on Monday, July 24th. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Robert W. Baird set a $71.00 price objective on CDW Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.94.
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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