CDW (NASDAQ:CDW) released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05, Morningstar.com reports. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.85 billion. CDW had a net margin of 3.44% and a return on equity of 68.41%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share.
CDW (CDW) traded up $1.06 during trading on Wednesday, reaching $69.37. 905,300 shares of the company were exchanged, compared to its average volume of 932,018. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 4.20. The company has a market cap of $10,455.72, a price-to-earnings ratio of 20.83 and a beta of 1.06. CDW has a twelve month low of $55.80 and a twelve month high of $76.73.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 26th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 25.23%.
In other news, insider Christina V. Rother sold 7,702 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $68.58, for a total value of $528,203.16. Following the transaction, the insider now owns 124,383 shares of the company’s stock, valued at approximately $8,530,186.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan J. Stevens sold 6,700 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $69.30, for a total transaction of $464,310.00. Following the completion of the transaction, the insider now directly owns 74,366 shares in the company, valued at approximately $5,153,563.80. The disclosure for this sale can be found here. Insiders have sold a total of 72,098 shares of company stock worth $5,005,985 in the last ninety days. 2.60% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in CDW. Bank of New York Mellon Corp boosted its position in CDW by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock valued at $52,315,000 after buying an additional 13,336 shares during the period. Boston Partners boosted its position in CDW by 10.7% during the 4th quarter. Boston Partners now owns 654,626 shares of the information technology services provider’s stock valued at $45,490,000 after buying an additional 63,255 shares during the period. Canada Pension Plan Investment Board boosted its position in CDW by 89.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 116,800 shares of the information technology services provider’s stock valued at $7,709,000 after buying an additional 55,200 shares during the period. Three Peaks Capital Management LLC boosted its position in CDW by 5.6% during the 4th quarter. Three Peaks Capital Management LLC now owns 168,323 shares of the information technology services provider’s stock valued at $11,697,000 after buying an additional 8,873 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in CDW during the 3rd quarter valued at $2,144,000. 90.62% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Robert W. Baird reiterated a “buy” rating and issued a $80.00 target price on shares of CDW in a research note on Wednesday, February 7th. Morgan Stanley boosted their target price on shares of CDW from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of CDW from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $72.00.
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CDW Company Profile
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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