David Nelms Acquires 18,000 Shares of CDW (NASDAQ:CDW) Stock

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

CDW Price Performance

NASDAQ CDW traded up $9.27 during trading on Friday, reaching $125.43. 4,791,705 shares of the company traded hands, compared to its average volume of 1,836,821. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. The stock’s 50 day moving average price is $120.61 and its two-hundred day moving average price is $129.28. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.55 and a beta of 1.04. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $185.16.

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

CDW Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CDW shares. Weiss Ratings downgraded CDW from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. UBS Group decreased their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays decreased their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Raymond James Financial set a $150.00 price objective on CDW in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CDW. Root Financial Partners LLC acquired a new position in shares of CDW in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management boosted its holdings in shares of CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. eCIO Inc. acquired a new position in shares of CDW in the 4th quarter worth approximately $61,000. Covestor Ltd boosted its holdings in shares of CDW by 53.4% in the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 258 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in shares of CDW in the 4th quarter worth approximately $110,000. 93.15% of the stock is owned by institutional investors and hedge funds.

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.