CDW (NASDAQ:CDW) Releases Earnings Results, Misses Expectations By $0.05 EPS

CDW (NASDAQ:CDW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05), Zacks reports. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 EPS.

CDW Stock Down 2.1 %

NASDAQ CDW traded down $4.52 on Thursday, reaching $213.59. The stock had a trading volume of 1,591,826 shares, compared to its average volume of 807,250. The business has a 50 day moving average price of $226.07 and a 200 day moving average price of $234.34. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a market capitalization of $28.71 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 3.45 and a beta of 1.04.

CDW Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CDW shares. JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Finally, Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Three investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $250.78.

Insider Buying and Selling at CDW

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

About CDW

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.