CDW Corp. (CDW) Given New $50.00 Price Target at RBC Capital Markets
A number of other equities analysts also recently issued reports on the company. Raymond James Financial Inc. reiterated a market perform rating on shares of CDW Corp. in a report on Tuesday, August 2nd. Zacks Investment Research upgraded CDW Corp. from a sell rating to a hold rating in a report on Wednesday, June 22nd. Barclays PLC reiterated an overweight rating and issued a $47.00 price objective on shares of CDW Corp. in a report on Friday, July 1st. Finally, Deutsche Bank AG increased their price objective on CDW Corp. from $43.00 to $48.00 and gave the stock a buy rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $46.27.
CDW Corp. (NASDAQ:CDW) traded up 0.4707% during midday trading on Tuesday, hitting $44.4784. 80,279 shares of the stock were exchanged. The company’s 50 day moving average is $45.12 and its 200 day moving average is $42.76. CDW Corp. has a 1-year low of $30.40 and a 1-year high of $47.50. The company has a market capitalization of $7.26 billion, a P/E ratio of 17.2732 and a beta of 0.95.
CDW Corp. (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The business earned $3.66 billion during the quarter, compared to the consensus estimate of $3.65 billion. CDW Corp. had a return on equity of 46.02% and a net margin of 3.18%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. Analysts predict that CDW Corp. will post $3.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were paid a dividend of $0.1075 per share. This represents a $0.43 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, August 23rd. CDW Corp.’s dividend payout ratio (DPR) is presently 16.80%.
A number of hedge funds have recently modified their holdings of CDW. FMR LLC increased its stake in shares of CDW Corp. by 1.6% in the second quarter. FMR LLC now owns 19,522,620 shares of the company’s stock valued at $782,467,000 after buying an additional 301,980 shares during the period. Vanguard Group Inc. increased its stake in shares of CDW Corp. by 6.3% in the second quarter. Vanguard Group Inc. now owns 13,243,713 shares of the company’s stock valued at $530,808,000 after buying an additional 783,804 shares during the period. Atlanta Capital Management Co. L L C increased its stake in shares of CDW Corp. by 14.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,500,296 shares of the company’s stock valued at $180,371,000 after buying an additional 558,302 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of CDW Corp. by 10.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,962,618 shares of the company’s stock valued at $158,822,000 after buying an additional 360,691 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of CDW Corp. by 1.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,300,293 shares of the company’s stock valued at $132,276,000 after buying an additional 58,894 shares during the period. 90.24% of the stock is currently owned by institutional investors.
About CDW Corp.
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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