CDW Corp. (CDW) PT Raised to $50.00 at RBC Capital Markets
CDW Corp. (NASDAQ:CDW) had its target price hoisted by investment analysts at RBC Capital Markets to $50.00 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the stock. RBC Capital Markets’ price target would indicate a potential upside of 11.14% from the company’s current price.
CDW has been the topic of a number of other reports. Deutsche Bank AG lifted their price objective on shares of CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays PLC restated an “overweight” rating and issued a $47.00 price objective on shares of CDW Corp. in a research note on Friday, July 1st. Zacks Investment Research upgraded shares of CDW Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of CDW Corp. in a research note on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.27.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.08. CDW Corp. had a net margin of 3.18% and a return on equity of 46.02%. The firm earned $3.66 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the company earned $0.81 earnings per share. CDW Corp.’s quarterly revenue was up 10.6% compared to the same quarter last year.
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The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, August 25th were given a dividend of $0.1075 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.43 annualized dividend and a yield of 0.96%. CDW Corp.’s payout ratio is currently 16.80%.
Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of CDW Corp. by 1.6% in the second quarter. FMR LLC now owns 19,522,620 shares of the company’s stock valued at $782,467,000 after buying an additional 301,980 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CDW Corp. by 6.3% in the second quarter. Vanguard Group Inc. now owns 13,243,713 shares of the company’s stock valued at $530,808,000 after buying an additional 783,804 shares during the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of CDW Corp. by 14.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,500,296 shares of the company’s stock valued at $180,371,000 after buying an additional 558,302 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of CDW Corp. by 10.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,962,618 shares of the company’s stock valued at $158,822,000 after buying an additional 360,691 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of CDW Corp. by 1.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,300,293 shares of the company’s stock valued at $132,276,000 after buying an additional 58,894 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.
About CDW Corp.
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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