Traders Sell Shares of CDW (CDW) on Strength on Analyst Downgrade

Investors sold shares of CDW Corp (NASDAQ:CDW) on strength during trading hours on Thursday after Morgan Stanley lowered their price target on the stock from $72.00 to $70.00. $36.88 million flowed into the stock on the tick-up and $40.83 million flowed out of the stock on the tick-down, for a money net flow of $3.95 million out of the stock. Of all equities tracked, CDW had the 25th highest net out-flow for the day. CDW traded up $0.65 for the day and closed at $69.05

Several other brokerages also recently commented on CDW. Robert W. Baird reissued a “buy” rating and issued a $80.00 price target on shares of CDW in a report on Wednesday. Zacks Investment Research downgraded shares of CDW from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. BidaskClub raised shares of CDW from a “hold” rating to a “buy” rating in a report on Monday. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Barclays reissued a “hold” rating and issued a $69.00 price target on shares of CDW in a report on Sunday, November 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $72.00.

In other news, insider Thomas E. Richards sold 14,368 shares of CDW stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $68.50, for a total transaction of $984,208.00. Following the completion of the sale, the insider now directly owns 670,391 shares of the company’s stock, valued at approximately $45,921,783.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas E. Richards sold 15,207 shares of CDW stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $66.25, for a total transaction of $1,007,463.75. The disclosure for this sale can be found here. Insiders have sold a total of 72,098 shares of company stock valued at $4,991,583 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CDW. Lloyds Banking Group plc bought a new stake in shares of CDW during the 3rd quarter worth $108,000. Toronto Dominion Bank raised its position in CDW by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 392 shares during the period. Cerebellum GP LLC purchased a new position in CDW in the 4th quarter worth $128,000. SG Americas Securities LLC purchased a new position in CDW in the 4th quarter worth $184,000. Finally, Price Capital Management Inc. purchased a new position in CDW in the 4th quarter worth $236,000. 90.77% of the stock is owned by institutional investors.

The company has a market capitalization of $11,210.32, a PE ratio of 26.04 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 4.20.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.85 billion. CDW had a net margin of 2.90% and a return on equity of 62.71%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. equities research analysts forecast that CDW Corp will post 3.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 26th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, February 23rd. CDW’s payout ratio is presently 31.11%.

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CDW 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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