CDW Co. (NASDAQ:CDW) Expected to Post Quarterly Sales of $6.15 Billion

Equities research analysts predict that CDW Co. (NASDAQ:CDW – Get Rating) will announce sales of $6.15 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for CDW’s earnings. The lowest sales estimate is $6.10 billion and the highest is $6.21 billion. CDW reported sales of $5.15 billion during the same quarter last year, which indicates a positive year over year growth rate of 19.4%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that CDW will report full year sales of $24.61 billion for the current financial year, with estimates ranging from $24.52 billion to $24.79 billion. For the next fiscal year, analysts anticipate that the business will report sales of $25.94 billion, with estimates ranging from $25.76 billion to $26.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CDW.

CDW (NASDAQ:CDW – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The information technology services provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.28. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.67 billion. CDW had a net margin of 4.59% and a return on equity of 129.10%. CDW’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share.

A number of research analysts have commented on CDW shares. Zacks Investment Research lowered shares of CDW from a “buy” rating to a “hold” rating and set a $181.00 price objective on the stock. in a research note on Tuesday, April 12th. Citigroup lifted their target price on shares of CDW from $210.00 to $235.00 in a report on Thursday, February 10th. Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $201.00 to $214.00 in a report on Thursday, March 31st. Stifel Nicolaus raised shares of CDW from a “hold” rating to a “buy” rating and lifted their target price for the company from $200.00 to $210.00 in a report on Thursday, April 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of CDW in a report on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $210.00.

In related news, insider Albert Joseph Miralles, Jr. acquired 1,475 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average price of $169.90 per share, with a total value of $250,602.50. Following the completion of the acquisition, the insider now owns 16,313 shares in the company, valued at $2,771,578.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of CDW by 16.2% in the first quarter. BlackRock Inc. now owns 11,059,776 shares of the information technology services provider’s stock valued at $1,978,483,000 after purchasing an additional 1,540,145 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of CDW by 2.6% in the fourth quarter. Select Equity Group L.P. now owns 7,016,322 shares of the information technology services provider’s stock valued at $1,436,802,000 after purchasing an additional 178,106 shares in the last quarter. State Street Corp lifted its holdings in shares of CDW by 1.6% in the fourth quarter. State Street Corp now owns 5,417,914 shares of the information technology services provider’s stock valued at $1,109,480,000 after purchasing an additional 85,834 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of CDW by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 4,999,133 shares of the information technology services provider’s stock valued at $1,023,722,000 after purchasing an additional 167,701 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of CDW by 5.3% in the first quarter. Mawer Investment Management Ltd. now owns 3,867,807 shares of the information technology services provider’s stock valued at $691,912,000 after purchasing an additional 193,102 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors.

NASDAQ CDW opened at $166.79 on Friday. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.26. The firm has a market cap of $22.54 billion, a PE ratio of 23.04, a P/E/G ratio of 1.45 and a beta of 1.11. CDW has a one year low of $159.91 and a one year high of $208.71. The firm’s fifty day moving average is $172.57 and its two-hundred day moving average is $184.26.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 25th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, May 24th. CDW’s dividend payout ratio is currently 27.62%.

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.

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