Equities research analysts expect CDW Corporation (NASDAQ:CDW) to report sales of $3.99 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for CDW Corporation’s earnings. The lowest sales estimate is $3.93 billion and the highest is $4.02 billion. CDW Corporation reported sales of $3.71 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that CDW Corporation will report full-year sales of $3.99 billion for the current year, with estimates ranging from $14.96 billion to $15.16 billion. For the next year, analysts expect that the business will report sales of $15.85 billion per share, with estimates ranging from $15.65 billion to $16.17 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for CDW Corporation.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share.
CDW has been the topic of several research reports. BidaskClub lowered CDW Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research raised CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, July 11th. Barclays PLC lowered CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price on the stock. in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and set a $70.00 target price on shares of CDW Corporation in a research note on Wednesday, August 2nd. Finally, Robert W. Baird set a $71.00 target price on CDW Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CDW Corporation has an average rating of “Buy” and an average price target of $66.95.
Shares of CDW Corporation (NASDAQ CDW) traded up 0.20% during trading on Thursday, hitting $69.30. The stock had a trading volume of 658,849 shares. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 26.31 and a beta of 1.08. CDW Corporation has a 12 month low of $43.64 and a 12 month high of $71.53. The company’s 50 day moving average price is $65.81 and its 200 day moving average price is $62.35.
CDW Corporation announced that its board has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Christina M. Corley sold 4,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $67.95, for a total value of $271,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas E. Richards sold 16,077 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $61.92, for a total value of $995,487.84. Following the completion of the transaction, the insider now owns 731,792 shares in the company, valued at approximately $45,312,560.64. The disclosure for this sale can be found here. Insiders sold a total of 125,341 shares of company stock worth $7,986,401 in the last ninety days. 2.60% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CDW. Renaissance Technologies LLC purchased a new position in shares of CDW Corporation in the 1st quarter valued at about $33,968,000. Morgan Stanley increased its holdings in shares of CDW Corporation by 339.3% in the 1st quarter. Morgan Stanley now owns 468,040 shares of the information technology services provider’s stock valued at $27,011,000 after acquiring an additional 361,502 shares during the last quarter. Capital Fund Management S.A. increased its holdings in shares of CDW Corporation by 216.0% in the 2nd quarter. Capital Fund Management S.A. now owns 245,178 shares of the information technology services provider’s stock valued at $15,331,000 after acquiring an additional 167,578 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of CDW Corporation by 152.7% in the 2nd quarter. Nationwide Fund Advisors now owns 265,340 shares of the information technology services provider’s stock valued at $16,592,000 after acquiring an additional 160,340 shares during the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of CDW Corporation by 61.6% in the 1st quarter. Janus Capital Management LLC now owns 377,814 shares of the information technology services provider’s stock valued at $21,804,000 after acquiring an additional 144,001 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.
CDW Corporation Company Profile
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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