Zacks Investment Research downgraded shares of CDW (NASDAQ:CDW) from a buy rating to a hold rating in a report published on Friday morning.
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 research analysts have also recently issued research reports about the company. BidaskClub upgraded CDW from a hold rating to a buy rating in a report on Saturday, August 5th. Robert W. Baird reiterated an outperform rating and set a $75.00 target price (up previously from $71.00) on shares of CDW in a report on Wednesday, August 9th. Morgan Stanley increased their target price on CDW from $58.00 to $63.00 and gave the company an equal weight rating in a report on Thursday, November 2nd. Royal Bank Of Canada restated an outperform rating and set a $71.00 price objective (up previously from $70.00) on shares of CDW in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a buy rating and set a $70.00 price objective on shares of CDW in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. CDW has a consensus rating of Buy and a consensus target price of $67.85.
CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.99 billion. CDW had a return on equity of 62.71% and a net margin of 2.90%. CDW’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. analysts expect that CDW will post 3.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 24th will be given a $0.21 dividend. The ex-dividend date is Wednesday, November 22nd. This is a positive change from CDW’s previous quarterly dividend of $0.16. This represents a $0.84 annualized dividend and a yield of 1.20%. CDW’s dividend payout ratio (DPR) is 31.11%.
In other news, insider Thomas E. Richards sold 16,861 shares of CDW stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now directly owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas E. Richards sold 14,503 shares of CDW stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $67.97, for a total value of $985,768.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,920 shares of company stock worth $9,320,618. Corporate insiders own 2.60% of the company’s stock.
A number of large investors have recently bought and sold shares of CDW. Eaton Vance Management boosted its stake in CDW by 7.6% in the second quarter. Eaton Vance Management now owns 1,518,629 shares of the information technology services provider’s stock valued at $94,960,000 after acquiring an additional 107,227 shares during the period. TIAA CREF Investment Management LLC boosted its stake in CDW by 2.9% in the second quarter. TIAA CREF Investment Management LLC now owns 999,840 shares of the information technology services provider’s stock valued at $62,520,000 after acquiring an additional 28,300 shares during the period. Bank of New York Mellon Corp boosted its stake in CDW by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock valued at $52,315,000 after acquiring an additional 13,336 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in CDW by 15.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 456,109 shares of the information technology services provider’s stock valued at $28,520,000 after acquiring an additional 60,173 shares during the period. Finally, Teachers Advisors LLC boosted its stake in CDW by 51.7% in the second quarter. Teachers Advisors LLC now owns 368,646 shares of the information technology services provider’s stock valued at $23,051,000 after acquiring an additional 125,701 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.
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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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