CDW (NASDAQ:CDW) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of CDW (NASDAQ:CDW) from a buy rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other research firms have also weighed in on CDW. Bank of America initiated coverage on shares of CDW in a research report on Tuesday. They issued a buy rating and a $140.00 price objective for the company. Northcoast Research lowered shares of CDW from a buy rating to a neutral rating in a research report on Friday, April 26th. They noted that the move was a valuation call. BidaskClub raised shares of CDW from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Evercore ISI initiated coverage on shares of CDW in a research report on Wednesday, June 5th. They issued an outperform rating and a $120.00 price objective for the company. Finally, Zacks Investment Research raised shares of CDW from a hold rating to a strong-buy rating and set a $125.00 price objective for the company in a research report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. CDW currently has an average rating of Buy and a consensus target price of $117.63.

Shares of NASDAQ:CDW traded down $2.18 during trading on Thursday, reaching $116.34. The stock had a trading volume of 795,490 shares, compared to its average volume of 738,884. The firm’s fifty day moving average is $111.76. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The firm has a market cap of $17.25 billion, a PE ratio of 22.81, a P/E/G ratio of 1.84 and a beta of 1.10. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $120.82.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.50 billion. CDW had a net margin of 4.07% and a return on equity of 81.06%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share. Equities analysts anticipate that CDW will post 5.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, August 23rd. CDW’s dividend payout ratio (DPR) is 23.14%.

In related news, insider Thomas E. Richards sold 66,667 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $6,644,699.89. Following the completion of the transaction, the insider now owns 644,443 shares of the company’s stock, valued at $64,231,633.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Collin B. Kebo sold 3,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $106.28, for a total transaction of $382,608.00. Following the transaction, the insider now directly owns 22,352 shares of the company’s stock, valued at approximately $2,375,570.56. The disclosure for this sale can be found here. Insiders have sold 139,534 shares of company stock valued at $14,332,814 in the last ninety days. 2.25% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in CDW by 65.6% during the first 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 last quarter. JPMorgan Chase & Co. increased its position in CDW by 5.9% during the first quarter. JPMorgan Chase & Co. now owns 3,053,205 shares of the information technology services provider’s stock worth $294,237,000 after purchasing an additional 168,943 shares during the last quarter. American Century Companies Inc. increased its position in CDW by 10.6% during the first 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 last quarter. Wells Fargo & Company MN grew its stake in CDW by 7.6% during the first quarter. Wells Fargo & Company MN now owns 1,621,738 shares of the information technology services provider’s stock worth $156,287,000 after buying an additional 114,778 shares during the period. Finally, Geode Capital Management LLC grew its stake in CDW by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 1,598,078 shares of the information technology services provider’s stock worth $129,445,000 after buying an additional 169,507 shares during the period. 91.80% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for CDW (NASDAQ:CDW)

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