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

CDW Co. (NASDAQ:CDW - Get Free Report) declared a quarterly dividend on Saturday, February 8th,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 yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th.

CDW has raised its dividend by an average of 13.5% annually over the last three years. CDW has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CDW to earn $10.43 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 24.0%.

CDW Price Performance

NASDAQ CDW traded down $7.84 on Friday, reaching $192.02. The company's stock had a trading volume of 1,470,637 shares, compared to its average volume of 1,442,600. The firm's 50 day moving average is $183.86 and its two-hundred day moving average is $202.15. The stock has a market cap of $25.59 billion, a PE ratio of 24.09, a PEG ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35. CDW has a twelve month low of $168.43 and a twelve month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts predict that CDW will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

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

CDW announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is 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.