CDW (NASDAQ:CDW) PT Raised to $132.00

CDW (NASDAQ:CDW) had its price objective lifted by equities research analysts at Credit Suisse Group from $118.00 to $132.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 13.46% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Deutsche Bank initiated coverage on shares of CDW in a research report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target for the company. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, May 7th. Morgan Stanley raised their price objective on CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus cut CDW from a “buy” rating to a “hold” rating and raised their price objective for the company from $100.00 to $105.00 in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $117.63.

NASDAQ CDW opened at $116.34 on Thursday. The company has a fifty day simple moving average of $111.76. CDW has a 12-month low of $74.32 and a 12-month high of $120.82. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The firm has a market cap of $16.59 billion, a P/E ratio of 22.81 and a beta of 1.11.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.03% and a return on equity of 77.94%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter last year, the firm posted $1.38 EPS. CDW’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW will post 5.54 EPS for the current fiscal year.

In related news, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.22, for a total value of $151,086.00. Following the sale, the insider now directly owns 35,070 shares in the company, valued at approximately $4,075,835.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $105.31, for a total value of $7,020,701.77. Following the completion of the sale, the insider now owns 644,443 shares in the company, valued at $67,866,292.33. The disclosure for this sale can be found here. Insiders have sold a total of 139,534 shares of company stock worth $14,332,814 over the last quarter. Company insiders own 2.25% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Neuburgh Advisers LLC grew its holdings in CDW by 9.4% during the 1st quarter. Neuburgh Advisers LLC now owns 9,456 shares of the information technology services provider’s stock valued at $911,000 after buying an additional 816 shares in the last quarter. Full Sail Capital LLC purchased a new position in CDW during the 1st quarter valued at about $203,000. NumerixS Investment Technologies Inc grew its holdings in CDW by 146.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 12,800 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 7,600 shares in the last quarter. Machina Capital S.A.S. grew its holdings in CDW by 8.9% during the 2nd quarter. Machina Capital S.A.S. now owns 2,336 shares of the information technology services provider’s stock valued at $259,000 after buying an additional 191 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in CDW during the 1st quarter valued at about $2,352,000. Institutional investors and hedge funds own 91.80% of the company’s stock.

CDW Company Profile

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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