CDW (CDW) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of CDW (NASDAQ:CDW) from a buy rating to a hold rating in a research report report published on Friday.
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 analysts have also issued reports about the stock. BidaskClub raised shares of CDW from a hold rating to a buy rating in a research note on Saturday, August 5th. Robert W. Baird set a $71.00 price target on shares of CDW and gave the stock a buy rating in a research note on Thursday, August 3rd. Stifel Nicolaus reissued a buy rating and set a $70.00 target price on shares of CDW in a research note on Tuesday, October 17th. Needham & Company LLC reissued a buy rating and set a $71.00 target price on shares of CDW in a research note on Monday, September 18th. Finally, Morgan Stanley increased their target price on shares of CDW from $58.00 to $63.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $67.85.
CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.99 billion. CDW had a net margin of 2.90% and a return on equity of 62.71%. CDW’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. equities research analysts predict that CDW will post 3.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 24th will be paid a dividend of $0.21 per share. 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 1.21%. CDW’s dividend payout ratio is currently 31.11%.
In other news, insider Thomas E. Richards sold 16,861 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now owns 714,931 shares in the company, valued at $41,987,897.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas E. Richards sold 15,207 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $66.25, for a total transaction of $1,007,463.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,620 shares of company stock valued at $9,734,544. Company insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Twin Capital Management Inc. acquired a new position in CDW in the 3rd quarter valued at approximately $1,876,000. Achmea Investment Management B.V. increased its stake in CDW by 25.0% in the 3rd quarter. Achmea Investment Management B.V. now owns 33,885 shares of the information technology services provider’s stock valued at $2,233,000 after buying an additional 6,770 shares during the period. Nordea Investment Management AB increased its stake in 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 buying an additional 3,777 shares during the period. ETRADE Capital Management LLC increased its stake in CDW by 5.5% in the 3rd quarter. ETRADE Capital Management LLC now owns 14,291 shares of the information technology services provider’s stock valued at $943,000 after buying an additional 748 shares during the period. Finally, Renaissance Group LLC acquired a new position in CDW in the 3rd quarter valued at approximately $2,478,000. Hedge funds and other institutional investors 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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