$4.64 Billion in Sales Expected for CDW (NASDAQ:CDW) This Quarter

Brokerages expect CDW (NASDAQ:CDW) to report sales of $4.64 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CDW’s earnings, with the highest sales estimate coming in at $4.69 billion and the lowest estimate coming in at $4.59 billion. CDW reported sales of $4.37 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that CDW will report full-year sales of $17.52 billion for the current year, with estimates ranging from $17.27 billion to $17.64 billion. For the next fiscal year, analysts forecast that the business will post sales of $18.53 billion, with estimates ranging from $18.42 billion to $18.71 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow CDW.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.50 billion. CDW had a return on equity of 82.78% and a net margin of 4.07%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share.

Several brokerages have issued reports on CDW. Evercore ISI began coverage on CDW in a research report on Wednesday, June 5th. They set an “outperform” rating and a $120.00 target price for the company. Bank of America assumed coverage on shares of CDW in a research note on Tuesday, July 30th. They set a “buy” rating and a $140.00 price target for the company. Deutsche Bank assumed coverage on shares of CDW in a research note on Tuesday, June 11th. They set a “buy” rating and a $113.00 price target for the company. BidaskClub raised shares of CDW from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley lifted their price target on shares of CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $118.13.

Shares of NASDAQ:CDW traded down $0.74 during trading hours on Wednesday, hitting $121.06. 4,612,635 shares of the company’s stock traded hands, compared to its average volume of 1,046,849. CDW has a 1 year low of $74.32 and a 1 year high of $122.91. The business has a fifty day moving average price of $114.30 and a 200-day moving average price of $107.29. The firm has a market capitalization of $17.42 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.64 and a beta of 1.10. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, August 23rd. CDW’s dividend payout ratio is presently 23.14%.

In related news, insider Jill M. Billhorn sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $111.69, for a total value of $55,845.00. Following the completion of the transaction, the insider now owns 14,755 shares of the company’s stock, valued at $1,647,985.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas E. Richards sold 62,222 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $113.66, for a total transaction of $7,072,152.52. Following the completion of the transaction, the insider now directly owns 639,998 shares of the company’s stock, valued at approximately $72,742,172.68. The disclosure for this sale can be found here. Insiders have sold 130,673 shares of company stock valued at $14,744,616 in the last ninety days. Insiders own 2.25% of the company’s stock.

A number of large investors have recently modified their holdings of CDW. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in CDW by 3.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,652 shares of the information technology services provider’s stock worth $2,847,000 after acquiring an additional 970 shares during the last quarter. Rehmann Capital Advisory Group raised its position in CDW by 135.8% during the second quarter. Rehmann Capital Advisory Group now owns 1,488 shares of the information technology services provider’s stock worth $165,000 after acquiring an additional 857 shares during the last quarter. Atria Investments LLC raised its position in CDW by 51.7% during the second quarter. Atria Investments LLC now owns 6,611 shares of the information technology services provider’s stock worth $739,000 after acquiring an additional 2,253 shares during the last quarter. Natixis raised its position in CDW by 29.6% during the second quarter. Natixis now owns 103,742 shares of the information technology services provider’s stock worth $11,515,000 after acquiring an additional 23,675 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in CDW by 25.7% during the second quarter. Cresset Asset Management LLC now owns 122,682 shares of the information technology services provider’s stock worth $13,617,000 after acquiring an additional 25,111 shares during the last quarter. 91.38% of the stock is owned by institutional investors.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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