Zacks Investment Research downgraded shares of CDW (NASDAQ:CDW) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
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. “
CDW has been the topic of a number of other research reports. Robert W. Baird reaffirmed a buy rating and set a $75.00 target price on shares of CDW in a research report on Wednesday, November 1st. ValuEngine raised shares of CDW from a hold rating to a buy rating in a research report on Sunday, December 31st. BidaskClub raised shares of CDW from a buy rating to a strong-buy rating in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a buy rating and set a $70.00 target price on shares of CDW in a research report on Tuesday, October 17th. Finally, Barclays reissued a hold rating and issued a $69.00 price target on shares of CDW in a report on Sunday, November 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $67.85.
CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. CDW had a net margin of 2.90% and a return on equity of 62.71%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. CDW’s revenue was up 8.8% compared to the same quarter last year. equities analysts anticipate that CDW will post 3.64 EPS for the current fiscal year.
In other news, insider Thomas E. Richards sold 14,503 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $67.97, for a total value of $985,768.91. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ann Elizabeth Ziegler sold 39,147 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $68.94, for a total transaction of $2,698,794.18. Following the completion of the sale, the insider now owns 47,477 shares in the company, valued at approximately $3,273,064.38. The disclosure for this sale can be found here. Insiders sold a total of 116,027 shares of company stock worth $7,930,673 in the last three months. Insiders own 2.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Lloyds Banking Group plc acquired a new stake in shares of CDW in the 3rd quarter valued at $108,000. Toronto Dominion Bank boosted its stake in shares of CDW by 24.8% in the 2nd 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 in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of CDW in the 3rd quarter valued at $257,000. Financial Counselors Inc. boosted its stake in shares of CDW by 16.7% in the 2nd quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock valued at $271,000 after purchasing an additional 621 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of CDW by 110.9% in the 3rd quarter. Nordea Investment Management AB now owns 7,184 shares of the information technology services provider’s stock valued at $474,000 after purchasing an additional 3,777 shares in the last quarter. Institutional investors own 90.55% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.com-unik.info/2018/01/11/cdw-cdw-cut-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.