A number of other equities research analysts have also issued reports on CDW. Evercore ISI started coverage on shares of CDW in a report on Wednesday, June 5th. They set an outperform rating and a $120.00 price target on the stock. Zacks Investment Research upgraded shares of CDW from a hold rating to a strong-buy rating and set a $113.00 price target on the stock in a report on Tuesday, August 6th. BidaskClub upgraded shares of CDW from a hold rating to a buy rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered shares of CDW from a neutral rating to an underweight rating and set a $116.00 price target on the stock. in a report on Monday, August 5th. They noted that the move was a valuation call. Finally, Deutsche Bank started coverage on shares of CDW in a report on Tuesday, June 11th. They set a buy rating and a $113.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $118.13.
NASDAQ CDW opened at $121.06 on Friday. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09. The company’s 50 day simple moving average is $114.30 and its 200 day simple moving average is $107.29. CDW has a 12 month low of $74.32 and a 12 month high of $122.91. The company has a market capitalization of $17.63 billion, a P/E ratio of 23.74, a PEG ratio of 1.66 and a beta of 1.10.
CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that CDW will post 5.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $0.295 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 0.97%. CDW’s dividend payout ratio is currently 23.14%.
In related news, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.22, for a total transaction of $151,086.00. Following the transaction, the insider now directly owns 35,070 shares of the company’s stock, valued at $4,075,835.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil B. Fairfield sold 2,118 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $118.12, for a total transaction of $250,178.16. Following the transaction, the insider now directly owns 7,054 shares in the company, valued at $833,218.48. The disclosure for this sale can be found here. Insiders have sold 130,673 shares of company stock worth $14,744,616 over the last ninety days. 2.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CDW. Nuveen Asset Management LLC grew its position in CDW by 1,275.9% during the second quarter. Nuveen Asset Management LLC now owns 1,833,992 shares of the information technology services provider’s stock valued at $203,573,000 after purchasing an additional 1,700,702 shares in the last quarter. AQR Capital Management LLC grew its position in CDW by 65.6% in the first quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock worth $328,150,000 after acquiring an additional 1,354,651 shares in the last quarter. Invesco Ltd. grew its position in CDW by 2,308.0% in the second quarter. Invesco Ltd. now owns 913,715 shares of the information technology services provider’s stock worth $101,423,000 after acquiring an additional 875,770 shares in the last quarter. Bessemer Group Inc. grew its position in CDW by 4,756.9% in the second quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock worth $90,707,000 after acquiring an additional 800,346 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in CDW by 37.3% in the second quarter. Wells Fargo & Company MN now owns 2,226,277 shares of the information technology services provider’s stock worth $247,117,000 after acquiring an additional 604,539 shares in the last quarter. 91.38% of the stock is currently owned by hedge funds and other institutional investors.
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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