CDW Corp. (CDW) PT Raised to $55.00
CDW Corp. (NASDAQ:CDW) had its price objective raised by equities researchers at Royal Bank Of Canada from $50.00 to $55.00 in a report issued on Wednesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 5.85% from the company’s current price.
CDW has been the subject of a number of other research reports. RBC Capital Markets restated a “buy” rating and set a $48.00 price objective on shares of CDW Corp. in a report on Friday, September 16th. Zacks Investment Research downgraded shares of CDW Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Robert W. Baird restated a “hold” rating on shares of CDW Corp. in a report on Wednesday, November 2nd. Raymond James Financial Inc. restated a “market perform” rating on shares of CDW Corp. in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $50.00 price objective on shares of CDW Corp. in a report on Thursday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $48.88.
Shares of CDW Corp. (NASDAQ:CDW) opened at 51.96 on Wednesday. CDW Corp. has a one year low of $30.40 and a one year high of $51.96. The company has a market cap of $8.34 billion, a P/E ratio of 21.14 and a beta of 0.96. The company’s 50 day moving average is $45.41 and its 200 day moving average is $43.50.
CDW Corp. (NASDAQ:CDW) last announced its earnings results on Wednesday, November 2nd. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.07. The company earned $3.71 billion during the quarter, compared to the consensus estimate of $3.50 billion. CDW Corp. had a net margin of 2.95% and a return on equity of 50.73%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, equities analysts predict that CDW Corp. will post $3.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 25th will be given a $0.16 dividend. This is a positive change from CDW Corp.’s previous quarterly dividend of $0.11. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, November 22nd. CDW Corp.’s dividend payout ratio (DPR) is 17.62%.
In other news, insider Douglas E. Eckrote sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $44.04, for a total value of $3,523,200.00. Following the completion of the transaction, the insider now directly owns 179,089 shares in the company, valued at $7,887,079.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Baldwin Brothers Inc. MA purchased a new position in CDW Corp. during the third quarter worth approximately $109,000. Pacer Advisors Inc. raised its position in CDW Corp. by 500.9% in the second quarter. Pacer Advisors Inc. now owns 2,800 shares of the company’s stock worth $112,000 after buying an additional 2,334 shares during the period. Ropes Wealth Advisors LLC raised its position in CDW Corp. by 632.0% in the second quarter. Ropes Wealth Advisors LLC now owns 3,111 shares of the company’s stock worth $125,000 after buying an additional 2,686 shares during the period. Creative Planning raised its position in CDW Corp. by 160.9% in the third quarter. Creative Planning now owns 3,178 shares of the company’s stock worth $145,000 after buying an additional 1,960 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in CDW Corp. by 14.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,550 shares of the company’s stock worth $142,000 after buying an additional 450 shares during the period. Institutional investors own 92.03% of the company’s stock.
CDW Corp. Company Profile
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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