CDW (CDW) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

CDW (NASDAQ:CDW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05, Morningstar.com reports. CDW had a net margin of 2.90% and a return on equity of 62.71%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the business earned $0.86 earnings per share. CDW’s revenue for the quarter was up 9.9% compared to the same quarter last year.

CDW (NASDAQ:CDW) opened at $68.40 on Thursday. CDW has a 52-week low of $55.80 and a 52-week high of $76.73. The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.15 and a current ratio of 1.37. The company has a market cap of $11,210.32, a P/E ratio of 25.33 and a beta of 1.06.

A number of research analysts have commented on the stock. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird reiterated a “buy” rating and set a $80.00 price target on shares of CDW in a research report on Wednesday. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $70.00 price target on shares of CDW in a research report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $71.22.

In other news, insider Thomas E. Richards sold 13,721 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $72.93, for a total transaction of $1,000,672.53. Following the completion of the sale, the insider now owns 642,302 shares of the company’s stock, valued at $46,843,084.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christina V. Rother sold 7,702 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $66.71, for a total value of $513,800.42. The disclosure for this sale can be found here. Insiders have sold 72,098 shares of company stock worth $4,991,583 over the last quarter. Company insiders own 2.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CDW. Lloyds Banking Group plc purchased a new stake in shares of CDW during the third quarter valued at approximately $108,000. Toronto Dominion Bank boosted its stake in shares of CDW by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the period. Cerebellum GP LLC purchased a new stake in shares of CDW during the fourth quarter valued at approximately $128,000. SG Americas Securities LLC purchased a new stake in shares of CDW during the fourth quarter valued at approximately $184,000. Finally, Price Capital Management Inc. purchased a new stake in shares of CDW during the fourth quarter valued at approximately $236,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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About CDW

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.

Earnings History for CDW (NASDAQ:CDW)

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