CDW (NASDAQ:CDW) Announces Quarterly Earnings Results

CDW (NASDAQ:CDW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05), Zacks reports. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 earnings per share.

CDW Stock Performance

Shares of NASDAQ CDW traded down $4.52 during midday trading on Thursday, reaching $213.59. 1,591,826 shares of the stock were exchanged, compared to its average volume of 807,250. The firm has a market cap of $28.71 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.45 and a beta of 1.04. CDW has a twelve month low of $185.04 and a twelve month high of $263.37. The firm has a 50-day simple moving average of $226.07 and a two-hundred day simple moving average of $234.34. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.16%. CDW’s payout ratio is 30.96%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDW. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday. Citigroup lowered their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus boosted their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.78.

Insider Transactions at CDW

In other news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.