CDW Co. (CDW) To Go Ex-Dividend on February 23rd

CDW Co. (NASDAQ:CDWGet Free Report) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders of record on Monday, February 26th will be given a dividend of 0.62 per share by the information technology services provider on Tuesday, March 12th. This represents a $2.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, February 23rd.

CDW has raised its dividend payment by an average of 15.8% per year over the last three years and has raised its dividend every year for the last 10 years. CDW has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CDW to earn $10.56 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 23.5%.

CDW Trading Up 2.7 %

NASDAQ:CDW opened at $243.96 on Friday. The company has a market capitalization of $32.68 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. CDW has a 52-week low of $160.66 and a 52-week high of $247.63. The stock has a fifty day simple moving average of $223.16 and a 200-day simple moving average of $211.68.

CDW (NASDAQ:CDWGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.40 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts expect that CDW will post 9.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christina M. Corley sold 700 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total transaction of $154,007.00. Following the completion of the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christina M. Corley sold 700 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total transaction of $154,007.00. Following the completion of the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christina M. Corley sold 48,320 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $217.23, for a total value of $10,496,553.60. Following the transaction, the insider now directly owns 62,536 shares in the company, valued at approximately $13,584,695.28. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Altshuler Shaham Ltd acquired a new stake in shares of CDW during the 4th quarter worth approximately $33,000. Milestone Investment Advisors LLC bought a new position in shares of CDW during the 1st quarter worth approximately $52,000. Fred Alger Management LLC bought a new position in shares of CDW during the 1st quarter worth approximately $66,000. ICA Group Wealth Management LLC bought a new position in shares of CDW during the 4th quarter worth approximately $71,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of CDW by 129.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock worth $82,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 93.04% of the company’s stock.

CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price for the company. in a report on Tuesday, December 12th. Finally, Evercore ISI upped their price target on CDW from $215.00 to $250.00 in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.60.

View Our Latest Stock Analysis on CDW

CDW Company Profile

(Get Free Report)

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.

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Dividend History for CDW (NASDAQ:CDW)

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