CDW Co. (NASDAQ:CDW) – Northcoast Research upped their Q2 2021 earnings per share estimates for shares of CDW in a research report issued to clients and investors on Thursday, April 22nd. Northcoast Research analyst K. Housum now forecasts that the information technology services provider will post earnings per share of $1.75 for the quarter, up from their previous estimate of $1.70. Northcoast Research also issued estimates for CDW’s Q3 2021 earnings at $1.85 EPS and FY2021 earnings at $7.00 EPS.
A number of other research firms have also recently commented on CDW. Credit Suisse Group upped their price objective on shares of CDW from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. William Blair restated an “outperform” rating on shares of CDW in a research report on Wednesday, February 10th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research report on Monday, March 8th. Morgan Stanley upped their price objective on shares of CDW from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Citigroup upped their price objective on shares of CDW from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. CDW currently has an average rating of “Buy” and an average target price of $152.75.
CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, February 9th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.31. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.38 billion. CDW had a return on equity of 88.43% and a net margin of 4.08%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Thursday, February 25th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 24th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. CDW’s dividend payout ratio is presently 26.58%.
CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 10th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 5.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Christina M. Corley sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $162.13, for a total value of $567,455.00. Following the transaction, the insider now owns 44,235 shares in the company, valued at $7,171,820.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Frederick J. Kulevich sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total transaction of $386,950.00. Following the completion of the transaction, the insider now owns 15,478 shares in the company, valued at approximately $2,395,684.84. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock worth $1,600,435 over the last ninety days. Insiders own 1.33% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Select Equity Group L.P. raised its holdings in shares of CDW by 8.2% during the fourth quarter. Select Equity Group L.P. now owns 7,460,355 shares of the information technology services provider’s stock valued at $983,200,000 after purchasing an additional 565,290 shares during the period. Alliancebernstein L.P. grew its position in CDW by 14.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,159,012 shares of the information technology services provider’s stock worth $679,906,000 after purchasing an additional 665,708 shares in the last quarter. Mawer Investment Management Ltd. grew its position in CDW by 45.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 2,847,959 shares of the information technology services provider’s stock worth $375,333,000 after purchasing an additional 895,959 shares in the last quarter. Lazard Asset Management LLC boosted its stake in CDW by 2.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,941,373 shares of the information technology services provider’s stock valued at $255,853,000 after acquiring an additional 50,283 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CDW during the 4th quarter valued at approximately $205,404,000. Institutional investors and hedge funds own 91.41% of the company’s stock.
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including on-premise, hybrid and cloud capabilities across data center and networking, digital workspace, security, and virtualization.
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