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

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders 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 dividend yield of 1.19%.

CDW has raised its dividend by an average of 13.5% per year over the last three years. CDW has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CDW to earn $9.33 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 26.8%.

CDW Stock Performance

Shares of NASDAQ:CDW traded up $10.90 during midday trading on Wednesday, hitting $210.24. The stock had a trading volume of 545,872 shares, compared to its average volume of 1,303,509. CDW has a 1 year low of $168.43 and a 1 year high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a 50 day moving average price of $182.49 and a two-hundred day moving average price of $202.62. The company has a market capitalization of $28.02 billion, a PE ratio of 25.95, a P/E/G ratio of 5.39 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 58.31% and a net margin of 5.33%. As a group, equities analysts predict that CDW will post 8.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CDW shares. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Company Profile

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.