CDW (CDW) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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.

About CDW

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.

See Also: 52-Week High/Low

Earnings History for CDW (NASDAQ:CDW)

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