Insider Buying: CDW (NASDAQ:CDW) Director Purchases 18,000 Shares of Stock

CDW Corporation (NASDAQ:CDW) Director David Nelms bought 18,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

CDW Stock Up 8.0%

NASDAQ CDW traded up $9.27 during trading on Friday, hitting $125.43. 4,791,705 shares of the company traded hands, compared to its average volume of 1,836,821. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $185.16. The business has a fifty day simple moving average of $120.61 and a 200 day simple moving average of $129.28. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $16.02 billion, a P/E ratio of 15.26, a PEG ratio of 1.55 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting analysts’ consensus estimates of $2.28. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 earnings per share. As a group, sell-side analysts predict that CDW Corporation will post 10 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be paid a $0.63 dividend. The ex-dividend date is Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. CDW’s payout ratio is presently 30.66%.

Institutional Investors Weigh In On CDW

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in CDW during the third quarter worth about $26,000. Hollencrest Capital Management grew its position in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after buying an additional 200 shares in the last quarter. eCIO Inc. acquired a new stake in CDW during the fourth quarter worth about $61,000. Covestor Ltd grew its position in CDW by 53.4% during the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after buying an additional 258 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in CDW during the fourth quarter worth about $110,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup dropped their price objective on CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research note on Wednesday. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Wednesday. Finally, UBS Group dropped their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.63.

About CDW

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.