$4.61 Billion in Sales Expected for CDW Co. (NASDAQ:CDW) This Quarter


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Wall Street analysts predict that CDW Co. (NASDAQ:CDW) will report $4.61 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for CDW’s earnings, with estimates ranging from $4.57 billion to $4.68 billion. CDW posted sales of $4.39 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The company is expected to announce its next earnings report on Wednesday, May 5th.

On average, analysts expect that CDW will report full-year sales of $19.60 billion for the current year, with estimates ranging from $19.41 billion to $20.23 billion. For the next financial year, analysts forecast that the company will post sales of $20.64 billion, with estimates ranging from $20.26 billion to $21.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CDW.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, February 9th. The information technology services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.31. CDW had a return on equity of 88.43% and a net margin of 4.08%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the company earned $1.57 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year.

A number of equities analysts have issued reports on CDW shares. Credit Suisse Group upped their target price on CDW from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 11th. Citigroup raised their target price on CDW from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Morgan Stanley raised their price target on CDW from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. William Blair restated an “outperform” rating on shares of CDW in a research report on Wednesday, February 10th. Finally, Zacks Investment Research upgraded CDW from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $152.75.

In other CDW news, insider Christina M. Corley sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $162.13, for a total value of $567,455.00. Following the sale, the insider now directly owns 44,235 shares of the company’s stock, valued at approximately $7,171,820.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total transaction of $386,950.00. Following the completion of the transaction, the insider now owns 15,478 shares of the company’s stock, valued at approximately $2,395,684.84. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock worth $1,421,480 over the last 90 days. 1.33% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CDW. Bartlett & Co. LLC boosted its position in shares of CDW by 10.5% in the first quarter. Bartlett & Co. LLC now owns 202,203 shares of the information technology services provider’s stock worth $33,515,000 after acquiring an additional 19,151 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC raised its stake in shares of CDW by 34.1% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 2,139 shares of the information technology services provider’s stock valued at $363,000 after purchasing an additional 544 shares during the period. LVW Advisors LLC raised its stake in shares of CDW by 46.7% during the first quarter. LVW Advisors LLC now owns 5,500 shares of the information technology services provider’s stock valued at $912,000 after purchasing an additional 1,750 shares during the period. CX Institutional raised its stake in shares of CDW by 103.7% during the first quarter. CX Institutional now owns 328 shares of the information technology services provider’s stock valued at $54,000 after purchasing an additional 167 shares during the period. Finally, DnB Asset Management AS increased its stake in shares of CDW by 3.0% in the first quarter. DnB Asset Management AS now owns 23,715 shares of the information technology services provider’s stock worth $3,931,000 after buying an additional 682 shares during the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

CDW traded down $1.81 during trading on Friday, hitting $182.20. The stock had a trading volume of 26,338 shares, compared to its average volume of 840,947. The company has a 50 day moving average price of $163.35 and a 200-day moving average price of $141.83. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 1.60 and a beta of 1.10. CDW has a one year low of $93.75 and a one year high of $184.58. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.50 and a quick ratio of 1.33.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Thursday, February 25th were issued a $0.40 dividend. The ex-dividend date was Wednesday, February 24th. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. CDW’s payout ratio is 26.58%.

CDW declared that its board has authorized a share repurchase program on Wednesday, February 10th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 5.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including on-premise, hybrid and cloud capabilities across data center and networking, digital workspace, security, and virtualization.

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