CDW Corporation (NASDAQ:CDW – Get Free Report) insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
CDW Stock Down 0.8%
Shares of NASDAQ CDW opened at $135.37 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The company has a market cap of $16.92 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.81 and a beta of 0.96. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $171.55. The business has a 50-day simple moving average of $135.81 and a two-hundred day simple moving average of $127.81.
CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that CDW Corporation will post 10.21 earnings per share for the current fiscal year.
CDW Announces Dividend
Hedge Funds Weigh In On CDW
A number of institutional investors have recently made changes to their positions in CDW. BNP Paribas Financial Markets raised its position in CDW by 20.5% during the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after purchasing an additional 48,547 shares in the last quarter. Local Pensions Partnership Investment Ltd boosted its holdings in shares of CDW by 7.8% in the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock worth $33,940,000 after purchasing an additional 18,000 shares in the last quarter. Fenimore Asset Management Inc increased its position in shares of CDW by 0.8% during the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after purchasing an additional 9,485 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in shares of CDW during the 1st quarter valued at about $1,587,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in CDW by 35.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,926 shares of the information technology services provider’s stock worth $9,115,000 after buying an additional 17,541 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.
Wall Street Analyst Weigh In
CDW has been the subject of several analyst reports. Barclays cut their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Weiss Ratings upgraded CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Citigroup increased their price objective on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their target price on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.
Check Out Our Latest Research Report on CDW
About CDW
CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.
CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.
Featured Articles
- Five stocks we like better than CDW
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
- NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings
- Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.
