Insider Selling: CDW (NASDAQ:CDW) Insider Sells 58,333 Shares of Stock
CDW (NASDAQ:CDW) insider Thomas E. Richards sold 58,333 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $112.17, for a total value of $6,543,212.61. Following the completion of the transaction, the insider now owns 636,109 shares of the company’s stock, valued at approximately $71,352,346.53. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of CDW traded up $1.31 during midday trading on Wednesday, reaching $112.81. The stock had a trading volume of 691,066 shares, compared to its average volume of 776,303. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 3.57. The firm has a 50 day simple moving average of $114.18 and a 200-day simple moving average of $106.40. The firm has a market cap of $17.01 billion, a PE ratio of 22.12, a P/E/G ratio of 1.60 and a beta of 1.10. CDW has a one year low of $74.32 and a one year high of $120.82.
CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the prior year, the firm earned $1.38 EPS. CDW’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts forecast that CDW will post 5.62 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 target price on the stock in a report on Tuesday, August 6th. Deutsche Bank started coverage on CDW in a research note on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target for the company. Credit Suisse Group raised their price target on CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price target on CDW from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Evercore ISI initiated coverage on CDW in a report on Wednesday, June 5th. They issued an “outperform” rating and a $120.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $118.13.
Large investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new position in shares of CDW in the second quarter valued at about $28,000. CSat Investment Advisory L.P. acquired a new stake in shares of CDW during the 2nd quarter worth about $28,000. Berman Capital Advisors LLC boosted its holdings in shares of CDW by 166.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock worth $30,000 after buying an additional 173 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of CDW by 478.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock worth $33,000 after buying an additional 244 shares during the period. Finally, Liberty Wealth Management LLC acquired a new position in CDW in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
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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