CDW Co. (CDW) To Go Ex-Dividend on February 25th

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Saturday, February 22nd, RTT News reports. Investors of record on Tuesday, February 25th will be paid 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 dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th.

CDW has increased its dividend by an average of 13.5% annually over the last three years. CDW has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of CDW stock opened at $186.50 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a market cap of $24.85 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.21 and a beta of 1.01. The business has a fifty day simple moving average of $186.14 and a 200 day simple moving average of $200.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, sell-side analysts forecast that CDW will post 9.41 EPS for the current fiscal year.

Analyst Ratings Changes

CDW has been the subject of several research reports. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley increased 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. Finally, Barclays increased 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW declared that its board has approved a stock repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.