CDW (NASDAQ:CDW) Insider Sells $3,673,765.90 in Stock

CDW Corporation (NASDAQ:CDW) insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CDW Price Performance

Shares of NASDAQ:CDW opened at $142.05 on Friday. The company has a 50-day simple moving average of $135.85 and a 200-day simple moving average of $127.97. CDW Corporation has a one year low of $97.12 and a one year high of $171.55. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.81 and a beta of 0.96.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, analysts predict that CDW Corporation will post 10.21 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDW. Barclays cut their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. Raymond James Financial set a $150.00 target price on shares of CDW in a research note on Wednesday, May 6th. Finally, UBS Group lowered their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Hedge Funds Weigh In On CDW

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its stake in shares of CDW by 909.1% in the first 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 period. Allied Private Wealth LLC purchased a new position in CDW in the second quarter valued at about $28,000. Keating Financial Advisory Services Inc. purchased a new position in CDW in the second quarter valued at about $28,000. Root Financial Partners LLC lifted its position in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of CDW during the 2nd quarter valued at approximately $51,000. 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.