Docoh
Loading...

CDW CDW

CDW Corporation, headquartered in Lincolnshire, Illinois, is a provider of technology products and services for business, government and education. The company has a secondary division known as CDW-G, devoted solely to United States governmental entities, such as K-12 schools, universities, non-profit healthcare organizations, State & Local and the Federal government. CDW was originally incorporated in 1984 as "MPK Computing" by its founder Michael Krasny. The idea was born when Krasny took a small ad in a free-circulation newspaper to sell his computer and printer. It later became Computer Discount Warehouse and then simply CDW.

Company profile

Ticker
CDW
Exchange
Website
CEO
Christine A. Leahy
Employees
Incorporated
Location
Fiscal year end
Former names
VH Holdings, Inc.
SEC CIK
IRS number
260273989

CDW stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 May 21
16 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from CDW earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 878.6M 878.6M 878.6M 878.6M 878.6M 878.6M
Cash burn (monthly) 177.2M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 449.84M n/a n/a n/a n/a n/a
Cash remaining 428.76M n/a n/a n/a n/a n/a
Runway (months of cash) 2.4 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Jun 21 Clarizio Lynda M Common Stock, par value $0.01 Grant Aquire A No No 0 2.36 0 11,483.54
10 Jun 21 Ilaria Mocciaro Common Stock, par value $0.01 Grant Aquire A No No 0 2.67 0 1,120.52
10 Jun 21 Anthony R Foxx Common Stock, par value $0.01 Grant Aquire A No No 0 2.82 0 1,185.83
10 Jun 21 Finnegan Paul J Common Stock, par value $0.01 Grant Aquire A No No 0 14.69 0 16,673.04
10 Jun 21 Mehrotra Sanjay Common Stock, par value $0.01 Grant Aquire A No No 0 2.33 0 977.33

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

90.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 654 671 -2.5%
Opened positions 79 112 -29.5%
Closed positions 96 45 +113.3%
Increased positions 237 251 -5.6%
Reduced positions 251 220 +14.1%
13F shares
Current Prev Q Change
Total value 20.92B 16.99B +23.1%
Total shares 126.19M 128.94M -2.1%
Total puts 96.8K 52.6K +84.0%
Total calls 197.2K 129.5K +52.3%
Total put/call ratio 0.5 0.4 +20.9%
Largest owners
Shares Value Change
Vanguard 16.06M $2.66B +1.1%
BLK Blackrock 10.55M $1.75B +8.9%
Wellington Management 8.43M $1.4B +4.5%
Select Equity 8.3M $1.38B +11.2%
STT State Street 5.3M $879.2M -3.4%
Alliancebernstein 5.1M $844.69M -1.2%
Amundi Pioneer Asset Management 3.7M $613.76M +3.0%
Mawer Investment Management 3.28M $543.75M +15.2%
ATAC Neuberger Berman 2.98M $493.9M -2.1%
FMR 2.42M $401.45M +25.7%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.56M EXIT
BLK Blackrock 10.55M +859.29K +8.9%
Select Equity 8.3M +837.65K +11.2%
Atlanta Capital Management Co L L C 958.93K -804.73K -45.6%
WFC Wells Fargo & Co. 927.99K -661.97K -41.6%
Nuveen Asset Management 696.12K -563.76K -44.7%
FMR 2.42M +495.05K +25.7%
Samlyn Capital 0 -492.22K EXIT
Mawer Investment Management 3.28M +432.55K +15.2%
Renaissance Technologies 277.5K -407.9K -59.5%

Financial report summary

?
Risks
  • The outbreak of the novel coronavirus ("COVID-19") pandemic has adversely impacted and could continue to adversely impact our business and results of operations and could also adversely impact our cash flows, financial condition and liquidity.
  • Our business depends on our vendor partner relationships and the terms of the agreements governing those relationships.
  • Our sales are dependent on continued innovations in hardware, software and services offerings by our vendor partners and the competitiveness of their offerings, and our ability to partner with new and emerging technology providers.
  • Substantial competition could reduce our market share and significantly harm our financial performance.
  • The success of our business depends on the continuing development, maintenance and operation of our information technology systems.
  • Breaches of data security and the failure to protect our information technology systems from cybersecurity threats could adversely impact our business.
  • If we or our third-party service providers fail to provide high-quality services to our customers, our reputation, business, results of operations or cash flows could be adversely affected.
  • If we lose any of our key personnel, or are unable to attract and retain the talent required for our business, our business could be disrupted and our financial performance could suffer.
  • A natural disaster or other adverse occurrence at one of our primary facilities or a third-party provider location could damage our business.
  • Increases in the cost of commercial delivery services or disruptions of those services could materially adversely impact our business.
  • We are exposed to accounts receivable and inventory risks.
  • We could be exposed to additional risks if we continue to make strategic investments or acquisitions or enter into alliances.
  • Our future operating results may fluctuate significantly, which may result in volatility in the market price of our stock and could impact our ability to operate our business effectively.
  • Fluctuations in foreign currency have an effect on our reported results of operations.
  • Global and regional economic and political conditions may have an adverse impact on our business.
  • The interruption of the flow of products from suppliers could disrupt our supply chain.
  • Our financial performance could be adversely affected by decreases in spending on technology products and services by our public sector customers.
  • The failure to comply with our public sector contracts or applicable laws and regulations could result in, among other things, termination, fines or other liabilities, and changes in procurement regulations could adversely impact our business, results of operations or cash flows.
  • We are exposed to risks from legal proceedings and audits, which may result in substantial costs and expenses or interruption of our normal business operations.
  • Failure to comply with complex and evolving laws and regulations applicable to our operations could adversely impact our business, results of operations or cash flows.
  • Our level of indebtedness could adversely affect our business.
  • Restrictive covenants under our senior credit facilities and, to a lesser degree, our indentures may adversely affect our operations and liquidity.
  • We will be required to generate sufficient cash to service our indebtedness and, if not successful, we may be forced to take other actions to satisfy our obligations under our indebtedness.
  • We and our subsidiaries may be able to incur substantially more debt, including secured debt. This could further increase the risks associated with our leverage.
  • Variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • The London Inter-bank Offered Rate ("LIBOR") and certain other interest "benchmarks" may be subject to regulatory guidance and/or reform that could cause interest rates under our current or future debt agreements to perform differently than in the past or cause other unanticipated consequences.
  • Our common stock price may be volatile and may decline regardless of our operating performance, and holders of our common stock could lose a significant portion of their investment.
  • Anti-takeover provisions in our charter documents and Delaware law might discourage or delay acquisition attempts for us that may be considered favorable.
  • We cannot assure you that we will continue to pay dividends on our common stock or repurchase any of our common stock under our share repurchase program, and our indebtedness and certain tax considerations could limit our ability to continue to pay dividends on, or make share repurchases of, our common stock. If we do not continue to pay dividends, you may not receive any return on investment unless you are able to sell your common stock for a price greater than your purchase price.
  • We are a holding company and rely on dividends, distributions and other payments, advances and transfers of funds from our subsidiaries to meet our obligations.
Management Discussion
  • (1)There were 63 and 64 selling days for the three months ended March 31, 2021 and 2020, respectively.
  • Total Net sales for the three months ended March 31, 2021 increased $448 million to $4,838 million, compared to the three months ended March 31, 2020. There was one less selling day in the three months ended March 31, 2021 compared to the same period of 2020, and Net sales on an average daily sales basis increased 12.0%. Excluding the impact of foreign currency fluctuations, constant currency Net sales growth on an average daily sales basis was 10.9%. For additional information, see "Non-GAAP Financial Measure Reconciliations" below regarding constant currency Net sales growth.
  • For the three months ended March 31, 2021, Net sales growth was driven by Education customers prioritizing equity and access to remote learning tools for all students and ways to address learning loss experienced throughout the COVID-19 pandemic. To improve the remote learning experience and to prepare to return to school, Education customers focused on integrated solutions including notebooks/mobile devices, accessories, video and services. Our non-Education customers continued to focus on optimizing their work from home environment as Net sales growth was driven by the shift to notebooks/mobile devices from desktops and the continued mix into Software as a Service. For additional information, see Note 11 (Segment Information) to the accompanying Consolidated Financial Statements.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: accelerated, addressing, agent, Amplified, bad, component, derecognizing, goodwill, Google, home, iii, impairment, logistical, low, membership, networking, notebook, optimistic, overlapping, ownership, pace, school, Simplifying, slight, transition, transitioning, vaccination, workspace
Removed: activating, aggregate, Aid, amend, approach, beginning, behavior, bolstered, booked, Brexit, broader, cap, charged, closure, computing, counterparty, deal, deem, deferral, delay, derivative, derived, designated, desired, deterioration, determined, discounted, disease, distancing, distribution, document, downturn, employer, enabled, enacted, enhance, enhanced, enter, entering, entitle, estimation, EU, European, exist, exit, filed, final, flat, forecasted, govern, grew, health, healthy, hedged, heightening, highly, immaterial, impacted, implemented, implementing, implied, Individually, insignificant, intended, Interbank, introduced, issue, July, leadership, led, LIBOR, light, limit, limiting, London, mandatory, mature, measured, Measurement, meeting, minimum, moving, negative, nonperformance, notional, observable, obtained, occur, occurred, offering, optimization, outbreak, par, permitted, personal, pool, positively, postpone, precautionary, predicted, predominately, presence, pressure, prevent, profitable, protective, put, qualify, quickly, range, ratio, recession, reclassify, referred, registered, Regulation, regulatory, Relief, remained, repayment, require, response, restrictive, resume, robust, safe, safety, Scalar, screening, segmented, social, speculative, standing, strike, strong, stronger, subsequently, subsided, subsidiary, supportable, suspend, team, temperature, temporary, tightening, trading, transfer, treat, uncollectible, unemployment, Union, upfront, valuation, voluntarily, wholesale, widespread

Patents

APP
Utility
Account Manager Virtual Assistant Using Machine Learning Techniques
8 Apr 21
A machine learning task automation method includes receiving a message, preprocessing the message to generate extracted data, analyzing the extracted data to generate classification data, analyzing the extracted data to generate information extraction; and generating and transmitting a response.
APP
Utility
Account Manager Virtual Assistant Using Machine Learning Techniques
8 Apr 21
An account manager virtual assistant computing system includes a processor and a memory storing instructions that when executed cause the system to receive a message, process the message using a quote classification machine learning model, generate a response including price information, and process the message using an information extraction machine deep learning model; and transmit the response.
APP
Utility
Voice Control Hub Methods and Systems
28 Jan 21
A method for application voice access and control includes receiving a handler registration, receiving an utterance, transmitting the utterance to a cloud layer, receiving an intent and an entity from the cloud layer and dispatching the intent and the entity to the handler.
APP
Utility
Visual Programming Methods and Systems for Intent Dispatch
28 Jan 21
A system includes a processor, an input device, and a memory storing instructions that, when executed, cause the system to display a palette and receive a user selection of one or more actions, and store the selected actions in association with the palette in an electronic database.
APP
Utility
Automated Graphical User Interface Control Methods and Systems Using Voice Commands
28 Jan 21
A system includes a processor and a memory storing instructions that, when executed by the processor, cause the system to receive an utterance, transmit the utterance to a cloud to generate an intent and an entity, receive the intent and the entity, and perform an action with respect to a graphical user interface.