ValuEngine Lowers CDW (NASDAQ:CDW) to Hold

ValuEngine lowered shares of CDW (NASDAQ:CDW) from a buy rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

Several other equities research analysts also recently weighed in on the company. BidaskClub upgraded CDW from a buy rating to a strong-buy rating in a report on Tuesday. Evercore ISI assumed coverage on CDW in a report on Wednesday, June 5th. They issued an outperform rating and a $120.00 price target on the stock. Zacks Investment Research upgraded CDW from a hold rating to a strong-buy rating and set a $113.00 price target on the stock in a report on Tuesday, August 6th. Deutsche Bank assumed coverage on CDW in a report on Tuesday, June 11th. They issued a buy rating and a $113.00 price target on the stock. Finally, Credit Suisse Group increased their price target on CDW from $118.00 to $132.00 and gave the stock an outperform rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $118.13.

Shares of NASDAQ:CDW traded up $2.72 during trading on Wednesday, hitting $122.40. The company had a trading volume of 1,180,415 shares, compared to its average volume of 1,008,397. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. CDW has a one year low of $74.32 and a one year high of $124.51. The company has a fifty day simple moving average of $116.46 and a two-hundred day simple moving average of $109.14. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the company earned $1.38 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that CDW will post 5.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.18 annualized dividend and a dividend yield of 0.96%. CDW’s payout ratio is 23.14%.

In other news, insider Jill M. Billhorn sold 500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $111.69, for a total value of $55,845.00. Following the sale, the insider now directly owns 14,755 shares in the company, valued at $1,647,985.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Collin B. Kebo sold 3,600 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the insider now owns 18,752 shares in the company, valued at $2,001,213.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,673 shares of company stock worth $14,744,616. Company insiders own 2.25% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC increased its holdings in CDW by 4.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,318,626 shares of the information technology services provider’s stock worth $479,368,000 after purchasing an additional 170,713 shares during the period. AQR Capital Management LLC increased its holdings in CDW by 65.6% during the 1st quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock worth $328,150,000 after purchasing an additional 1,354,651 shares during the period. American Century Companies Inc. increased its holdings in CDW by 10.6% during the 1st quarter. American Century Companies Inc. now owns 2,384,709 shares of the information technology services provider’s stock worth $229,814,000 after purchasing an additional 228,818 shares during the period. Wells Fargo & Company MN increased its holdings in CDW by 37.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,226,277 shares of the information technology services provider’s stock worth $247,117,000 after purchasing an additional 604,539 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in CDW by 1,275.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,833,992 shares of the information technology services provider’s stock worth $203,573,000 after purchasing an additional 1,700,702 shares during the period. Institutional investors own 91.38% of the company’s stock.

CDW Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CDW (NASDAQ:CDW)

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