CDW Corporation (NASDAQ:CDW) Upgraded at Zacks Investment Research
CDW Corporation (NASDAQ:CDW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $70.00 price objective on the information technology services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.67% from the company’s current price.
According to Zacks, “CDW Corporation offers information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company’s software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing. CDW Corporation is headquartered in Vernon Hills, Illinois. “
Several other equities research analysts have also recently weighed in on CDW. Royal Bank Of Canada restated a “buy” rating and set a $64.00 target price on shares of CDW Corporation in a report on Monday, April 17th. Northcoast Research started coverage on CDW Corporation in a report on Monday, April 24th. They set a “buy” rating and a $70.00 target price for the company. Barclays PLC restated an “overweight” rating and set a $64.00 target price (up from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Robert W. Baird restated a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Finally, BidaskClub cut CDW Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.28.
Shares of CDW Corporation (NASDAQ CDW) traded up 0.99% during trading on Tuesday, hitting $63.25. The stock had a trading volume of 718,521 shares. The firm has a 50-day moving average price of $60.87 and a 200 day moving average price of $57.51. CDW Corporation has a 52 week low of $40.00 and a 52 week high of $66.33. The company has a market capitalization of $9.94 billion, a PE ratio of 25.73 and a beta of 1.08.
CDW Corporation (NASDAQ:CDW) last issued its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.24 billion. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. CDW Corporation’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. Equities analysts anticipate that CDW Corporation will post $3.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Thursday, May 25th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, May 23rd. CDW Corporation’s payout ratio is 26.23%.
In other news, insider Christine A. Leahy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $61.33, for a total value of $735,960.00. Following the completion of the transaction, the insider now owns 198,130 shares of the company’s stock, valued at approximately $12,151,312.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan J. Stevens sold 6,700 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.55, for a total value of $419,085.00. Following the completion of the transaction, the insider now directly owns 94,366 shares of the company’s stock, valued at approximately $5,902,593.30. The disclosure for this sale can be found here. Insiders have sold a total of 52,100 shares of company stock valued at $3,145,493 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CDW. BKD Wealth Advisors LLC raised its position in shares of CDW Corporation by 6.1% in the first quarter. BKD Wealth Advisors LLC now owns 5,756 shares of the information technology services provider’s stock valued at $332,000 after buying an additional 330 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of CDW Corporation during the first quarter valued at about $491,000. Private Trust Co. NA purchased a new position in shares of CDW Corporation during the first quarter valued at about $472,000. Regentatlantic Capital LLC raised its position in shares of CDW Corporation by 2.7% in the first quarter. Regentatlantic Capital LLC now owns 6,060 shares of the information technology services provider’s stock valued at $350,000 after buying an additional 162 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of CDW Corporation by 7.3% in the first quarter. Bank of Montreal Can now owns 319,939 shares of the information technology services provider’s stock valued at $18,464,000 after buying an additional 21,891 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.
CDW Corporation Company Profile
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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