CDW’s (CDW) Buy Rating Reiterated at Royal Bank of Canada
CDW (NASDAQ:CDW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued to investors on Monday. They presently have a $80.00 price target on the information technology services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.77% from the stock’s current price.
CDW has been the topic of several other reports. Zacks Investment Research cut CDW from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $71.00 price target on shares of CDW in a report on Monday, September 18th. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Stifel Nicolaus reissued a “buy” rating and set a $70.00 price target on shares of CDW in a report on Tuesday, October 17th. Finally, Raymond James Financial cut CDW from a “market perform” rating to an “underperform” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. CDW has a consensus rating of “Buy” and a consensus price target of $68.75.
CDW (NASDAQ CDW) traded up $0.15 during midday trading on Monday, hitting $72.88. The stock had a trading volume of 669,300 shares, compared to its average volume of 739,578. The company has a market cap of $11,160.00, a PE ratio of 26.99 and a beta of 1.06. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15. CDW has a 12-month low of $50.49 and a 12-month high of $74.01.
In other CDW news, insider Thomas E. Richards sold 15,207 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $66.25, for a total value of $1,007,463.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina M. Corley sold 4,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $72.59, for a total value of $290,360.00. Following the completion of the sale, the insider now owns 39,843 shares of the company’s stock, valued at approximately $2,892,203.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,524 shares of company stock worth $6,962,024. 2.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in CDW by 1.7% in the 3rd 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 buying an additional 13,336 shares in the last quarter. Nationwide Fund Advisors increased its stake in CDW by 152.7% in the 2nd quarter. Nationwide Fund Advisors now owns 265,340 shares of the information technology services provider’s stock worth $16,592,000 after buying an additional 160,340 shares in the last quarter. Ameriprise Financial Inc. increased its stake in CDW by 7.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 197,811 shares of the information technology services provider’s stock worth $12,371,000 after buying an additional 14,442 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in CDW by 89.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 116,800 shares of the information technology services provider’s stock worth $7,709,000 after buying an additional 55,200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in CDW in the 3rd quarter worth $2,144,000. Institutional investors and hedge funds own 90.63% of the company’s stock.
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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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