CDW Corporation (NASDAQ:CDW) declared a quarterly dividend on Thursday, August 3rd, Zacks reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 23rd.
CDW Corporation (NASDAQ CDW) opened at 61.44 on Friday. CDW Corporation has a 52 week low of $43.46 and a 52 week high of $66.33. The stock has a market capitalization of $9.51 billion, a PE ratio of 23.33 and a beta of 1.08. The firm has a 50 day moving average of $63.03 and a 200-day moving average of $60.01.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 58.89% and a net margin of 2.95%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, equities analysts predict that CDW Corporation will post $3.83 EPS for the current year.
A number of brokerages have weighed in on CDW. Barclays PLC reissued an “overweight” rating and set a $64.00 price target (up previously from $62.00) on shares of CDW Corporation in a research report on Monday, May 1st. Robert W. Baird reissued a “buy” rating on shares of CDW Corporation in a research report on Saturday, May 13th. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research raised CDW Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada upped their target price on CDW Corporation from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $65.94.
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In related news, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $64.04, for a total value of $429,068.00. Following the completion of the sale, the insider now directly owns 90,366 shares in the company, valued at $5,787,038.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christina M. Corley sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $60.21, for a total value of $240,840.00. Following the completion of the sale, the insider now owns 67,843 shares of the company’s stock, valued at $4,084,827.03. The disclosure for this sale can be found here. Insiders sold 104,910 shares of company stock worth $6,555,240 in the last ninety days. 2.60% of the stock is owned by company insiders.
CDW Corporation declared that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are 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.
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