CDW Corp (CDW) Expected to Post Quarterly Sales of $3.84 Billion
Equities analysts forecast that CDW Corp (NASDAQ:CDW) will post $3.84 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for CDW Corp’s earnings, with the highest sales estimate coming in at $3.89 billion and the lowest estimate coming in at $3.80 billion. CDW Corp reported sales of $3.66 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, August 2nd.
On average, analysts expect that CDW Corp will report full year sales of $3.84 billion for the current fiscal year, with estimates ranging from $14.69 billion to $14.86 billion. For the next year, analysts anticipate that the business will report sales of $15.55 billion per share, with estimates ranging from $15.36 billion to $15.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CDW Corp.
CDW Corp (NASDAQ:CDW) last released its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.24 billion. CDW Corp had a return on equity of 23.66% and a net margin of 1.73%. CDW Corp’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share.
CDW has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on CDW Corp from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Zacks Investment Research downgraded CDW Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub downgraded CDW Corp from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Barclays PLC reiterated an “overweight” rating and issued a $64.00 price objective (up previously from $62.00) on shares of CDW Corp in a report on Monday, May 1st. Finally, Robert W. Baird upgraded CDW Corp from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $63.00 to $71.00 in a report on Tuesday, May 9th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $62.28.
CDW Corp (NASDAQ CDW) opened at 63.52 on Friday. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 25.84 and a beta of 1.08. The company’s 50-day moving average price is $62.63 and its 200-day moving average price is $58.54. CDW Corp has a 12-month low of $40.56 and a 12-month high of $66.33.
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In other CDW Corp news, insider Christina M. Corley sold 4,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $59.01, for a total value of $236,040.00. Following the completion of the sale, the insider now directly owns 71,843 shares in the company, valued at $4,239,455.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 12,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $59.22, for a total value of $710,640.00. Following the completion of the sale, the insider now owns 210,130 shares of the company’s stock, valued at $12,443,898.60. The disclosure for this sale can be found here. Insiders sold 83,833 shares of company stock valued at $5,152,381 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of CDW Corp during the fourth quarter valued at about $570,000. Pegasus Partners Ltd. increased its stake in shares of CDW Corp by 8.3% in the fourth quarter. Pegasus Partners Ltd. now owns 19,058 shares of the information technology services provider’s stock valued at $993,000 after buying an additional 1,453 shares during the period. Teachers Advisors LLC increased its stake in shares of CDW Corp by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 142,932 shares of the information technology services provider’s stock valued at $7,445,000 after buying an additional 9,071 shares during the period. CENTRAL TRUST Co increased its stake in shares of CDW Corp by 1.1% in the first quarter. CENTRAL TRUST Co now owns 6,183 shares of the information technology services provider’s stock valued at $357,000 after buying an additional 65 shares during the period. Finally, Raymond James Trust N.A. increased its stake in shares of CDW Corp by 1.4% in the first quarter. Raymond James Trust N.A. now owns 5,969 shares of the information technology services provider’s stock valued at $344,000 after buying an additional 83 shares during the period. Institutional investors own 90.91% of the company’s stock.
About CDW Corp
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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