Insider Buying: CDW (NASDAQ:CDW) Director Buys $2,005,740.00 in Stock

CDW Corporation (NASDAQ:CDW) Director David Nelms acquired 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the acquisition, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This represents a 54.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CDW Price Performance

CDW opened at $125.45 on Monday. The stock has a 50-day moving average price of $120.77 and a 200-day moving average price of $129.15. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $185.16. 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 stock has a market capitalization of $16.03 billion, a P/E ratio of 15.26, a PEG ratio of 1.68 and a beta of 1.00.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, meeting the consensus estimate of $2.28. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.CDW’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 EPS. Equities analysts predict that CDW Corporation will post 10.08 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDW shares. UBS Group dropped their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Weiss Ratings cut CDW from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Morgan Stanley increased their target price on CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CDW. Root Financial Partners LLC bought a new position in CDW during the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management raised its position in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. eCIO Inc. bought a new position in CDW during the 4th quarter valued at approximately $61,000. Covestor Ltd raised its position in CDW by 53.4% during the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 258 shares during the last quarter. Finally, American National Bank & Trust bought a new position in CDW during the 4th quarter valued at approximately $110,000. Institutional investors own 93.15% of the company’s stock.

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.