Credit Suisse Group Initiates Coverage on CDW (CDW)

Investment analysts at Credit Suisse Group assumed coverage on shares of CDW (NASDAQ:CDW) in a report issued on Thursday, April 11th, Marketbeat.com reports. The firm set an “outperform” rating and a $117.00 price target on the information technology services provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 7.25% from the company’s previous close.

Several other equities analysts have also recently issued reports on CDW. Zacks Investment Research cut CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, January 1st. BidaskClub cut CDW from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Finally, ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. CDW presently has an average rating of “Hold” and a consensus price target of $99.33.

NASDAQ:CDW opened at $109.09 on Thursday. The company has a market capitalization of $16.02 billion, a P/E ratio of 21.39 and a beta of 1.07. CDW has a 1-year low of $74.19 and a 1-year high of $111.59. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 3.26.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.13. CDW had a return on equity of 74.63% and a net margin of 3.96%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $1.05 EPS. CDW’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that CDW will post 5.43 EPS for the current fiscal year.

In other news, Director Steven W. Alesio sold 20,013 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $89.66, for a total transaction of $1,794,365.58. Following the transaction, the director now directly owns 24,183 shares of the company’s stock, valued at $2,168,247.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christina M. Corley sold 14,900 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $92.44, for a total value of $1,377,356.00. Following the transaction, the insider now directly owns 50,684 shares in the company, valued at $4,685,228.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,463 shares of company stock worth $9,315,140. 2.25% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in CDW. Financial Counselors Inc. lifted its holdings in CDW by 3.9% in the fourth quarter. Financial Counselors Inc. now owns 3,313 shares of the information technology services provider’s stock valued at $269,000 after acquiring an additional 125 shares during the period. First Mercantile Trust Co. lifted its holdings in CDW by 9.7% in the fourth quarter. First Mercantile Trust Co. now owns 1,470 shares of the information technology services provider’s stock valued at $119,000 after acquiring an additional 130 shares during the period. Commonwealth Equity Services LLC lifted its holdings in CDW by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,903 shares of the information technology services provider’s stock valued at $397,000 after acquiring an additional 143 shares during the period. First Hawaiian Bank lifted its holdings in CDW by 0.8% in the first quarter. First Hawaiian Bank now owns 19,642 shares of the information technology services provider’s stock valued at $1,893,000 after acquiring an additional 158 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in CDW by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,619 shares of the information technology services provider’s stock valued at $293,000 after acquiring an additional 164 shares during the period. 91.19% of the stock is currently owned by hedge funds and other institutional investors.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Analyst Recommendations for CDW (NASDAQ:CDW)

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