CDW (NASDAQ:CDW) Cut to Hold at BidaskClub

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CDW (NASDAQ:CDW) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, BidAskClub reports.

Several other brokerages have also recently issued reports on CDW. Stifel Nicolaus cut shares of CDW from a “buy” rating to a “hold” rating and upped their target price for the company from $100.00 to $105.00 in a report on Wednesday, April 17th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 target price for the company in a report on Tuesday, May 7th. Deutsche Bank assumed coverage on shares of CDW in a report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 target price for the company. Northcoast Research cut shares of CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group assumed coverage on shares of CDW in a report on Thursday, April 11th. They issued an “outperform” rating and a $117.00 target price for the company. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. CDW has a consensus rating of “Buy” and an average price target of $107.75.

Shares of NASDAQ:CDW opened at $104.13 on Monday. CDW has a 52 week low of $74.32 and a 52 week high of $111.59. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 20.42 and a beta of 1.08.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.13. CDW had a net margin of 4.03% and a return on equity of 77.94%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts forecast that CDW will post 5.55 earnings per share for the current year.

In related news, insider Collin B. Kebo sold 3,600 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $106.28, for a total transaction of $382,608.00. Following the completion of the sale, the insider now owns 22,352 shares in the company, valued at approximately $2,375,570.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $99.67, for a total transaction of $6,644,699.89. Following the sale, the insider now owns 644,443 shares of the company’s stock, valued at approximately $64,231,633.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,203 shares of company stock valued at $8,913,129. Company insiders own 2.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Ffcm LLC purchased a new position in CDW during the 4th quarter worth $28,000. Bronfman E.L. Rothschild L.P. raised its position in CDW by 218.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 350 shares of the information technology services provider’s stock worth $28,000 after buying an additional 240 shares during the last quarter. PRW Wealth Management LLC purchased a new position in CDW during the 4th quarter worth $30,000. Semmax Financial Advisors Inc. purchased a new position in CDW during the 4th quarter worth $34,000. Finally, Daiwa SB Investments Ltd. purchased a new position in CDW during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 90.62% 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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Analyst Recommendations for CDW (NASDAQ:CDW)

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