CDW (CDW) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

CDW (NASDAQ:CDW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.08, MarketWatch Earnings reports. CDW had a net margin of 3.99% and a return on equity of 71.09%. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $1.08 EPS. CDW’s revenue was up 11.2% on a year-over-year basis.

NASDAQ CDW traded up $9.51 on Wednesday, reaching $89.77. The company had a trading volume of 40,465 shares, compared to its average volume of 850,377. The firm has a market cap of $12.06 billion, a PE ratio of 23.03 and a beta of 1.06. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 3.00. CDW has a 1-year low of $65.59 and a 1-year high of $90.50.

Several brokerages have commented on CDW. Raymond James upgraded shares of CDW from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Northcoast Research reissued a “buy” rating and issued a $93.00 price target on shares of CDW in a report on Friday, July 20th. Stifel Nicolaus reissued a “buy” rating and issued a $92.00 price target on shares of CDW in a report on Monday, July 23rd. Zacks Investment Research raised shares of CDW from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Tuesday, July 24th. Finally, BidaskClub lowered shares of CDW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. CDW currently has an average rating of “Buy” and an average price target of $86.44.

In other news, insider Thomas E. Richards sold 18,182 shares of the stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $81.48, for a total transaction of $1,481,469.36. Following the completion of the transaction, the insider now directly owns 51,077 shares in the company, valued at approximately $4,161,753.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christina M. Corley sold 14,900 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $85.44, for a total transaction of $1,273,056.00. Following the transaction, the insider now owns 51,077 shares of the company’s stock, valued at $4,364,018.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,068 shares of company stock valued at $9,629,759. Company insiders own 2.60% 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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Earnings History for CDW (NASDAQ:CDW)

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