CDW (CDW) Upgraded by Zacks Investment Research to “Hold”

CDW (NASDAQ:CDW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “CDW Corporation offers information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company’s software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing. CDW Corporation is headquartered in Vernon Hills, Illinois. “

Other equities research analysts have also issued research reports about the company. Morgan Stanley cut their target price on CDW from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday. Robert W. Baird reissued a “buy” rating and set a $80.00 target price on shares of CDW in a research report on Wednesday. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Barclays reissued a “hold” rating and set a $69.00 target price on shares of CDW in a research report on Sunday, November 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. CDW currently has an average rating of “Buy” and an average price target of $72.00.

Shares of CDW (CDW) opened at $69.14 on Thursday. The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.15 and a current ratio of 1.37. CDW has a 12-month low of $55.80 and a 12-month high of $76.73. The firm has a market capitalization of $10,568.99, a PE ratio of 20.76 and a beta of 1.06.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. CDW had a return on equity of 68.41% and a net margin of 3.44%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. research analysts forecast that CDW will post 4.23 earnings per share for the current fiscal year.

In related news, insider Thomas E. Richards sold 13,721 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $72.93, for a total transaction of $1,000,672.53. Following the transaction, the insider now owns 642,302 shares in the company, valued at approximately $46,843,084.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $72.23, for a total value of $288,920.00. Following the transaction, the insider now owns 124,677 shares in the company, valued at approximately $9,005,419.71. The disclosure for this sale can be found here. Insiders have sold a total of 64,396 shares of company stock worth $4,477,782 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CDW. USS Investment Management Ltd grew its stake in CDW by 60.1% during the 4th quarter. USS Investment Management Ltd now owns 2,476,491 shares of the information technology services provider’s stock worth $172,153,000 after buying an additional 929,488 shares during the last quarter. American Century Companies Inc. grew its stake in CDW by 35.6% during the 4th quarter. American Century Companies Inc. now owns 1,647,091 shares of the information technology services provider’s stock worth $114,456,000 after buying an additional 432,525 shares during the last quarter. BlackRock Inc. grew its stake in CDW by 2.1% during the 4th quarter. BlackRock Inc. now owns 11,852,737 shares of the information technology services provider’s stock worth $823,644,000 after buying an additional 249,110 shares during the last quarter. PGGM Investments purchased a new position in CDW during the 4th quarter worth approximately $15,309,000. Finally, First Trust Advisors LP grew its stake in shares of CDW by 28.0% in the 4th quarter. First Trust Advisors LP now owns 819,770 shares of the information technology services provider’s stock valued at $56,966,000 after purchasing an additional 179,257 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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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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