CDW Co. (NASDAQ:CDW) Increases Dividend to $0.62 Per Share

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Sunday, November 19th, RTT News reports. Shareholders of record on Friday, November 24th will be given a dividend of 0.62 per share by the information technology services provider on Tuesday, December 12th. This represents a $2.48 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, November 22nd. This is a boost from CDW’s previous quarterly dividend of $0.59.

CDW has increased its dividend by an average of 18.2% per year over the last three years and has increased its dividend every year for the last 10 years. CDW has a payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CDW to earn $9.78 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 25.4%.

CDW Trading Down 0.1 %

CDW stock opened at $215.29 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 3.13. The business’s fifty day simple moving average is $206.46 and its two-hundred day simple moving average is $193.40. CDW has a 12 month low of $160.66 and a 12 month high of $219.71. The company has a market capitalization of $28.84 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11.

Institutional Trading of CDW

A number of hedge funds have recently bought and sold shares of CDW. Diversified Trust Co purchased a new stake in CDW in the third quarter worth about $223,000. Creative Planning increased its position in CDW by 15.6% in the third quarter. Creative Planning now owns 9,450 shares of the information technology services provider’s stock worth $1,907,000 after buying an additional 1,275 shares in the last quarter. GTS Securities LLC purchased a new stake in CDW in the third quarter worth about $279,000. Sei Investments Co. grew its position in shares of CDW by 17.1% during the third quarter. Sei Investments Co. now owns 25,226 shares of the information technology services provider’s stock worth $5,089,000 after purchasing an additional 3,675 shares in the last quarter. Finally, National Pension Service grew its position in shares of CDW by 1.8% during the second quarter. National Pension Service now owns 212,822 shares of the information technology services provider’s stock worth $38,446,000 after purchasing an additional 3,807 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James upped their price target on CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Barclays upped their price target on CDW from $216.00 to $219.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. StockNews.com assumed coverage on CDW in a report on Thursday, October 5th. They set a “hold” rating on the stock. Morgan Stanley lowered their price target on CDW from $230.00 to $216.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Finally, Evercore ISI upped their price target on CDW from $215.00 to $250.00 in a report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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