CDW Corp (CDW) Receives Average Rating of “Buy” from Analysts

CDW Corp (NASDAQ:CDW) has earned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $66.72.

CDW has been the subject of a number of research analyst reports. Raymond James Financial cut shares of CDW from a “market perform” rating to an “underperform” rating in a report on Friday, October 13th. Morgan Stanley increased their target price on shares of CDW from $58.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 target price on shares of CDW in a report on Tuesday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 target price on shares of CDW in a report on Monday, September 18th. Finally, BidaskClub raised shares of CDW from a “hold” rating to a “buy” rating in a report on Thursday, September 28th.

CDW (NASDAQ:CDW) opened at $73.06 on Friday. The stock has a market cap of $11,180.00, a PE ratio of 27.06 and a beta of 1.06. CDW has a 1-year low of $50.49 and a 1-year high of $73.46. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 4.20.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.06. CDW had a net margin of 2.90% and a return on equity of 62.71%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. analysts predict that CDW will post 3.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 24th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a positive change from CDW’s previous quarterly dividend of $0.16. This represents a $0.84 annualized dividend and a dividend yield of 1.15%. CDW’s dividend payout ratio is currently 31.11%.

In related news, insider Thomas E. Richards sold 14,503 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $67.97, for a total transaction of $985,768.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $69.94, for a total transaction of $839,280.00. The disclosure for this sale can be found here. Insiders sold 124,027 shares of company stock worth $8,479,593 over the last quarter. Company insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Eaton Vance Management raised its stake in CDW by 7.6% during the second quarter. Eaton Vance Management now owns 1,518,629 shares of the information technology services provider’s stock worth $94,960,000 after purchasing an additional 107,227 shares during the period. TIAA CREF Investment Management LLC raised its stake in CDW by 2.9% during the second quarter. TIAA CREF Investment Management LLC now owns 999,840 shares of the information technology services provider’s stock worth $62,520,000 after purchasing an additional 28,300 shares during the period. Bank of New York Mellon Corp raised its stake in CDW by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock worth $52,315,000 after purchasing an additional 13,336 shares during the period. Teachers Advisors LLC raised its stake in CDW by 51.7% during the second quarter. Teachers Advisors LLC now owns 368,646 shares of the information technology services provider’s stock worth $23,051,000 after purchasing an additional 125,701 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in CDW by 4.6% during the third quarter. Parametric Portfolio Associates LLC now owns 313,378 shares of the information technology services provider’s stock worth $20,683,000 after purchasing an additional 13,813 shares during the period. Hedge funds and other institutional investors own 90.55% of the company’s stock.

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CDW 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.

Analyst Recommendations for CDW (NASDAQ:CDW)

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