CDW Co. (NASDAQ:CDW – Get Rating) announced a quarterly dividend on Sunday, May 21st, RTT News reports. Shareholders of record on Thursday, May 25th will be given a dividend of 0.59 per share by the information technology services provider on Tuesday, June 13th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Wednesday, May 24th.
CDW has raised its dividend by an average of 18.2% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. CDW has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect CDW to earn $9.90 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 23.8%.
CDW Stock Down 1.2 %
NASDAQ CDW opened at $172.59 on Monday. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.44 and a beta of 1.11. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 3.66. CDW has a 1-year low of $147.91 and a 1-year high of $215.00. The stock’s 50 day moving average is $179.70 and its two-hundred day moving average is $187.16.
Insider Buying and Selling at CDW
In other CDW news, insider Christine A. Leahy bought 3,050 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was bought at an average price of $163.62 per share, for a total transaction of $499,041.00. Following the transaction, the insider now owns 68,622 shares of the company’s stock, valued at approximately $11,227,931.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.
Institutional Trading of CDW
Institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of CDW in the 4th quarter valued at $33,000. Milestone Investment Advisors LLC acquired a new position in CDW in the 1st quarter worth $52,000. Fred Alger Management LLC acquired a new position in CDW in the 1st quarter worth $66,000. ICA Group Wealth Management LLC acquired a new position in CDW in the 4th quarter worth $71,000. Finally, Brown Brothers Harriman & Co. boosted its stake in CDW by 129.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock worth $82,000 after purchasing an additional 259 shares during the period. Institutional investors own 92.78% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on CDW shares. JPMorgan Chase & Co. reduced their target price on CDW from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Raymond James boosted their target price on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Citigroup boosted their target price on CDW from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Morgan Stanley reduced their target price on CDW from $228.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Finally, StockNews.com initiated coverage on shares of CDW in a research report on Thursday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.63.
CDW Company Profile
CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.
- Get a free copy of the StockNews.com research report on CDW (CDW)
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