CDW (NASDAQ:CDW) issued its quarterly earnings results on Wednesday. The information technology services provider reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.08, MarketWatch Earnings reports. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.24 billion. CDW had a return on equity of 71.09% and a net margin of 3.99%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS.
Shares of CDW traded up $0.27 on Friday, reaching $89.50. 8,805 shares of the stock traded hands, compared to its average volume of 889,129. The stock has a market cap of $12.15 billion, a PE ratio of 23.15 and a beta of 1.06. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 3.00. CDW has a 12 month low of $65.59 and a 12 month high of $92.18.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, November 23rd. This is a boost from CDW’s previous quarterly dividend of $0.21. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.32%. CDW’s payout ratio is currently 21.65%.
In related news, insider Thomas E. Richards sold 17,143 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $86.15, for a total value of $1,476,869.45. Following the sale, the insider now owns 617,218 shares of the company’s stock, valued at approximately $53,173,330.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas E. Richards sold 18,182 shares of the business’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $81.48, for a total value of $1,481,469.36. Following the completion of the sale, the insider now directly owns 51,077 shares in the company, valued at approximately $4,161,753.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,068 shares of company stock worth $9,629,759. 2.60% of the stock is currently owned by company insiders.
Several brokerages have commented on CDW. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research report on Thursday. Needham & Company LLC lifted their price target on CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $92.00 price target on shares of CDW in a research report on Monday, July 23rd. BidaskClub cut CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Northcoast Research restated a “buy” rating and set a $93.00 price objective on shares of CDW in a research report on Friday, July 20th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.44.
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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