CDW (NASDAQ:CDW) Hits New 1-Year High at $122.20

CDW (NASDAQ:CDW)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $122.20 and last traded at $121.80, with a volume of 1340281 shares traded. The stock had previously closed at $113.80.

CDW has been the topic of a number of research analyst reports. Evercore ISI started coverage on CDW in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $120.00 target price on the stock. Deutsche Bank initiated coverage on shares of CDW in a research note on Tuesday, June 11th. They set a “buy” rating and a $113.00 target price for the company. Zacks Investment Research raised shares of CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 price target for the company in a research report on Tuesday, August 6th. Bank of America began coverage on shares of CDW in a research note on Tuesday, July 30th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Morgan Stanley lifted their target price on shares of CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $118.13.

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 market capitalization of $16.17 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.52 and a beta of 1.10. The business’s fifty day moving average price is $113.96 and its 200 day moving average price is $106.90.

CDW (NASDAQ:CDW) last released 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 analyst estimates of $4.50 billion. During the same period in the prior year, the firm earned $1.38 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that CDW will post 5.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, August 23rd. CDW’s dividend payout ratio is presently 23.14%.

In related news, insider Thomas E. Richards sold 58,333 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $112.17, for a total value of $6,543,212.61. Following the sale, 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 legal filing with the SEC, which is available through this link. Also, insider Neil B. Fairfield sold 2,118 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $118.12, for a total value of $250,178.16. Following the completion of the transaction, the insider now directly owns 7,054 shares in the company, valued at approximately $833,218.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,373 shares of company stock worth $14,599,536. 2.25% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in CDW during the second quarter valued at approximately $28,000. CSat Investment Advisory L.P. acquired a new stake in shares of CDW in the 2nd quarter valued at $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 valued at $30,000 after acquiring an additional 173 shares in the last quarter. 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 valued at $33,000 after acquiring an additional 244 shares in the last quarter. Finally, Liberty Wealth Management LLC acquired a new position in CDW during the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 91.38% of the company’s stock.

CDW Company Profile (NASDAQ:CDW)

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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