CDW (NASDAQ:CDW – Get Rating) issued its quarterly earnings results on Wednesday. The information technology services provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.92 by $0.28, MarketWatch Earnings reports. CDW had a net margin of 4.59% and a return on equity of 129.10%. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the company posted $1.77 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year.
NASDAQ:CDW traded down $0.59 during midday trading on Friday, hitting $170.62. 792,458 shares of the company were exchanged, compared to its average volume of 966,626. The company has a fifty day simple moving average of $173.01 and a 200 day simple moving average of $184.78. CDW has a fifty-two week low of $159.91 and a fifty-two week high of $208.71. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The company has a market capitalization of $23.04 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 25th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 24th. This represents a $2.00 annualized dividend and a yield of 1.17%. CDW’s dividend payout ratio is currently 27.62%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of CDW in the fourth quarter valued at about $6,502,000. Vident Investment Advisory LLC boosted its holdings in shares of CDW by 12.5% in the fourth quarter. Vident Investment Advisory LLC now owns 16,410 shares of the information technology services provider’s stock valued at $3,360,000 after acquiring an additional 1,824 shares in the last quarter. Allstate Corp boosted its holdings in shares of CDW by 1,112.7% in the fourth quarter. Allstate Corp now owns 15,244 shares of the information technology services provider’s stock valued at $3,122,000 after acquiring an additional 13,987 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of CDW by 371.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 8,461 shares of the information technology services provider’s stock valued at $1,733,000 after acquiring an additional 6,668 shares in the last quarter. Finally, Toroso Investments LLC boosted its holdings in shares of CDW by 25.0% in the fourth quarter. Toroso Investments LLC now owns 4,341 shares of the information technology services provider’s stock valued at $889,000 after acquiring an additional 867 shares in the last quarter. Institutional investors own 92.46% of the company’s stock.
Several equities analysts have commented on CDW shares. Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $201.00 to $214.00 in a research report on Thursday, March 31st. Stifel Nicolaus raised shares of CDW from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $210.00 in a research report on Thursday, April 14th. Citigroup lifted their price objective on shares of CDW from $210.00 to $235.00 in a research report on Thursday, February 10th. StockNews.com assumed coverage on shares of CDW in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of CDW in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Buy” and an average target price of $210.00.
About CDW (Get Rating)
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.
- Get a free copy of the StockNews.com research report on CDW (CDW)
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