CDW (CDW) Raised to Hold at Zacks Investment Research

CDW (NASDAQ:CDW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “CDW Corporation offers information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company’s software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing. CDW Corporation is headquartered in Vernon Hills, Illinois. “

Other equities analysts have also issued reports about the company. Robert W. Baird reaffirmed a “buy” rating and issued a $80.00 target price on shares of CDW in a research report on Wednesday. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a research report on Monday. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $80.00 target price on shares of CDW in a research report on Monday, January 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 target price on shares of CDW in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $72.00.

Shares of CDW (CDW) traded up $0.65 on Thursday, hitting $69.05. The company’s stock had a trading volume of 2,552,291 shares, compared to its average volume of 930,914. CDW has a one year low of $55.80 and a one year high of $76.73. The firm has a market cap of $11,210.32, a price-to-earnings ratio of 25.57 and a beta of 1.06. The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.15 and a current ratio of 1.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. CDW had a return on equity of 62.71% and a net margin of 2.90%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the company posted $0.86 EPS. CDW’s quarterly revenue was up 9.9% on a year-over-year basis. analysts anticipate that CDW will post 3.64 earnings per share for the current year.

In other news, insider Thomas E. Richards sold 15,207 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $66.25, for a total value of $1,007,463.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christina M. Corley sold 4,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $69.53, for a total value of $278,120.00. Following the transaction, the insider now owns 43,843 shares of the company’s stock, valued at $3,048,403.79. The disclosure for this sale can be found here. Insiders sold a total of 72,098 shares of company stock valued at $4,991,583 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lloyds Banking Group plc bought a new position in CDW during the 3rd quarter worth $108,000. Cerebellum GP LLC bought a new position in CDW during the 4th quarter worth $128,000. Toronto Dominion Bank grew its stake in CDW by 24.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after buying an additional 392 shares during the last quarter. SG Americas Securities LLC bought a new position in CDW during the 4th quarter worth $184,000. Finally, Price Capital Management Inc. bought a new position in CDW during the 4th quarter worth $236,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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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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