William Blair Comments on CDW’s Q4 2018 Earnings (CDW)

CDW (NASDAQ:CDW) – Equities research analysts at William Blair decreased their Q4 2018 earnings per share estimates for shares of CDW in a note issued to investors on Wednesday, October 31st. William Blair analyst M. Nolan now expects that the information technology services provider will earn $1.14 per share for the quarter, down from their prior estimate of $1.20.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. CDW had a return on equity of 70.39% and a net margin of 4.24%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis.

Several other equities research analysts also recently issued reports on CDW. ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded CDW from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, October 23rd. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Needham & Company LLC boosted their price objective on CDW from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Morgan Stanley boosted their price objective on CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. CDW currently has an average rating of “Buy” and an average price target of $88.63.

Shares of CDW stock opened at $88.02 on Monday. CDW has a 52 week low of $65.59 and a 52 week high of $92.18. The firm has a market capitalization of $13.20 billion, a PE ratio of 22.69 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 2.75.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 23rd. This is an increase from CDW’s previous quarterly dividend of $0.21. CDW’s payout ratio is currently 21.65%.

In related news, insider Thomas E. Richards sold 18,182 shares of the business’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $81.48, for a total value of $1,481,469.36. Following the sale, the insider now owns 51,077 shares in the company, valued at approximately $4,161,753.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina M. Corley sold 14,900 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $88.39, for a total value of $1,317,011.00. Following the completion of the sale, the insider now owns 51,077 shares in the company, valued at approximately $4,514,696.03. The disclosure for this sale can be found here. Insiders sold a total of 87,168 shares of company stock worth $7,503,403 in the last quarter. Company insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Synovus Financial Corp increased its holdings in CDW by 62.1% during the 3rd quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 563 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in CDW by 5.4% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 13,478 shares of the information technology services provider’s stock worth $1,198,000 after purchasing an additional 692 shares during the period. FineMark National Bank & Trust increased its holdings in CDW by 0.9% during the 3rd quarter. FineMark National Bank & Trust now owns 82,810 shares of the information technology services provider’s stock worth $7,363,000 after purchasing an additional 752 shares during the period. Bessemer Group Inc. increased its holdings in CDW by 149.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 776 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in CDW by 11.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 8,526 shares of the information technology services provider’s stock worth $758,000 after purchasing an additional 909 shares during the period. Institutional investors own 89.40% 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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