CDW Co. (CDW) To Go Ex-Dividend on August 26th

CDW Co. (NASDAQ:CDW) declared a quarterly dividend on Friday, August 23rd, RTT News reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.62 per share by the information technology services provider on Tuesday, September 10th. This represents a $2.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, August 26th.

CDW has raised its dividend payment by an average of 15.8% per year over the last three years. CDW has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect CDW to earn $10.50 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 23.6%.

CDW Trading Up 2.0 %

NASDAQ CDW opened at $229.74 on Friday. The firm has a market cap of $30.88 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. CDW has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average price of $223.27 and a 200 day moving average price of $233.11.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company posted $2.43 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that CDW will post 9.6 EPS for the current fiscal year.

Analysts Set New Price Targets

CDW has been the subject of a number of research analyst reports. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Citigroup decreased their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays cut their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

Insiders Place Their Bets

In related news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by company insiders.

About CDW

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 and cloud capabilities across hybrid infrastructure, digital experience, and security.