Insider Selling: CDW (NASDAQ:CDW) Insider Sells 26,695 Shares of Stock

Key Points

• CDW insider Elizabeth Connelly sold 26,695 shares at an average price of $137.62, generating approximately $3.67 million. The sale reduced her direct ownership by 43.83% to 34,215 shares.
• CDW reported quarterly revenue of $6.57 billion and earnings of $2.91 per share, surpassing analyst estimates while revenue increased 10% year over year.
• The company declared a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $147.

CDW Corporation (NASDAQ:CDW - Get Free Report) insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction on Friday, August 7th. The shares were 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 approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CDW Price Performance

Shares of NASDAQ CDW traded down $1.06 during trading on Tuesday, hitting $135.37. The company had a trading volume of 1,264,938 shares, compared to its average volume of 1,916,531. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. The stock has a fifty day simple moving average of $135.90 and a two-hundred day simple moving average of $127.75. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $2.60 EPS. CDW's quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts expect that CDW Corporation will post 10.21 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW's dividend payout ratio is presently 30.29%.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Citigroup raised their price objective on CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Weiss Ratings raised shares of CDW from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Royal Bank Of Canada raised shares of CDW to an "outperform" rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 target price on shares of CDW in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

Institutional Trading of CDW

Several institutional investors and hedge funds have recently bought and sold shares of CDW. BlackRock Inc. purchased a new position in CDW during the second quarter worth about $2,143,082,000. Pzena Investment Management LLC acquired a new position in shares of CDW in the 2nd quarter worth approximately $371,135,000. Fenimore Asset Management Inc boosted its position in shares of CDW by 0.8% during the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider's stock worth $156,707,000 after purchasing an additional 9,485 shares during the period. Deutsche Bank AG acquired a new stake in CDW in the 2nd quarter valued at approximately $112,488,000. Finally, Marshall Wace LLP increased its holdings in CDW by 255.7% in the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider's stock valued at $95,448,000 after purchasing an additional 430,796 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Company Profile

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.

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