CDW Co. Declares Quarterly Dividend of $0.63 (NASDAQ:CDW)

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Saturday, February 22nd, RTT News reports. Investors of record on Tuesday, February 25th will be given a dividend of 0.625 per share by the information technology services provider on Tuesday, March 11th. This represents a $2.50 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, February 25th.

CDW has increased its dividend payment by an average of 13.5% per year over the last three years. CDW has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect CDW to earn $10.05 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 24.9%.

CDW Trading Down 3.3 %

Shares of CDW stock opened at $186.50 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The stock has a 50 day moving average price of $186.14 and a two-hundred day moving average price of $200.03. The stock has a market capitalization of $24.85 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the subject of a number of research reports. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.