Jonathan J. Stevens Sells 6,700 Shares of CDW Corporation (CDW) Stock

CDW Corporation (NASDAQ:CDW) insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $68.56, for a total value of $459,352.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CDW Corporation (CDW) opened at 69.64 on Friday. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 27.20 and a beta of 1.08. The stock has a 50 day moving average price of $63.08 and a 200-day moving average price of $61.25. CDW Corporation has a 1-year low of $43.64 and a 1-year high of $70.17.

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, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the business earned $0.93 EPS. CDW Corporation’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that CDW Corporation will post $3.83 EPS for the current year.

CDW Corporation declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 25th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 0.92%. CDW Corporation’s dividend payout ratio is presently 24.33%.

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Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of CDW Corporation by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock valued at $866,571,000 after purchasing an additional 653,020 shares in the last quarter. BlackRock Inc. increased its stake in shares of CDW Corporation by 7,281.8% in the 1st quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock valued at $627,607,000 after purchasing an additional 10,727,865 shares in the last quarter. State Street Corp increased its stake in shares of CDW Corporation by 3.0% in the 1st quarter. State Street Corp now owns 2,836,131 shares of the information technology services provider’s stock valued at $163,683,000 after purchasing an additional 81,539 shares in the last quarter. Eaton Vance Management increased its stake in shares of CDW Corporation by 7.6% in the 2nd quarter. Eaton Vance Management now owns 1,518,629 shares of the information technology services provider’s stock valued at $94,960,000 after purchasing an additional 107,227 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of CDW Corporation by 16.3% in the 1st quarter. Geode Capital Management LLC now owns 1,369,568 shares of the information technology services provider’s stock valued at $79,015,000 after purchasing an additional 191,517 shares in the last quarter. Hedge funds and other institutional investors own 90.65% of the company’s stock.

Several analysts have issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $75.00 price target (up previously from $71.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $71.00 price target (up previously from $70.00) on shares of CDW Corporation in a report on Wednesday, August 9th. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised CDW Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $60.00 price objective (up previously from $59.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. CDW Corporation has an average rating of “Buy” and a consensus target price of $66.95.

CDW Corporation Company Profile

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.

Insider Buying and Selling by Quarter for CDW Corporation (NASDAQ:CDW)

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