Brokerages Anticipate CDW (CDW) Will Post Quarterly Sales of $4.24 Billion

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Equities research analysts expect CDW (NASDAQ:CDW) to announce sales of $4.24 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CDW’s earnings, with estimates ranging from $4.21 billion to $4.29 billion. CDW posted sales of $4.03 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The company is expected to announce its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that CDW will report full-year sales of $16.04 billion for the current financial year, with estimates ranging from $16.00 billion to $16.15 billion. For the next financial year, analysts anticipate that the company will report sales of $16.94 billion, with estimates ranging from $16.84 billion to $17.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow CDW.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Thursday, August 2nd. The information technology services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.16 billion. CDW had a net margin of 3.99% and a return on equity of 71.09%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS.

A number of research analysts recently issued reports on CDW shares. Needham & Company LLC boosted their target price on shares of CDW from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. BidaskClub downgraded shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Tuesday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $92.00 target price on shares of CDW in a research report on Monday, July 23rd. Finally, Northcoast Research reiterated a “buy” rating and set a $93.00 target price on shares of CDW in a research report on Friday, July 20th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CDW has a consensus rating of “Hold” and an average price target of $87.00.

Shares of NASDAQ CDW traded up $2.00 during midday trading on Monday, reaching $82.37. The stock had a trading volume of 655,864 shares, compared to its average volume of 829,903. The company has a market capitalization of $13.46 billion, a P/E ratio of 21.23 and a beta of 1.06. CDW has a twelve month low of $65.59 and a twelve month high of $90.50. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.16 and a current ratio of 1.36.

In other CDW news, insider Christina M. Corley sold 14,900 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $85.44, for a total transaction of $1,273,056.00. Following the completion of the sale, the insider now owns 51,077 shares in the company, valued at approximately $4,364,018.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Richards sold 16,667 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $88.92, for a total transaction of $1,482,029.64. Following the sale, the insider now owns 616,742 shares of the company’s stock, valued at approximately $54,840,698.64. The disclosure for this sale can be found here. Insiders have sold a total of 112,068 shares of company stock valued at $9,629,759 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank increased its stake in CDW by 45.7% during the 2nd quarter. Toronto Dominion Bank now owns 15,267 shares of the information technology services provider’s stock valued at $1,233,000 after purchasing an additional 4,790 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CDW by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 868,395 shares of the information technology services provider’s stock valued at $70,158,000 after purchasing an additional 59,184 shares in the last quarter. SG Americas Securities LLC increased its stake in CDW by 185.0% during the 2nd quarter. SG Americas Securities LLC now owns 31,306 shares of the information technology services provider’s stock valued at $2,529,000 after purchasing an additional 20,321 shares in the last quarter. UBS Group AG increased its stake in CDW by 17.1% during the 1st quarter. UBS Group AG now owns 33,324 shares of the information technology services provider’s stock valued at $2,343,000 after purchasing an additional 4,875 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in CDW during the 2nd quarter valued at $6,258,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

About 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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