RBC Capital Markets Increases CDW Corp. (CDW) Price Target to $55.00
CDW Corp. (NASDAQ:CDW) had its target price lifted by analysts at RBC Capital Markets from $50.00 to $55.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the stock. RBC Capital Markets’ price target would suggest a potential upside of 5.85% from the company’s current price.
CDW has been the topic of a number of other research reports. Deutsche Bank AG boosted their price objective on CDW Corp. from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research lowered CDW Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. JPMorgan Chase & Co. restated a “buy” rating and set a $50.00 price objective on shares of CDW Corp. in a research report on Thursday, November 3rd. Royal Bank Of Canada upped their price target on CDW Corp. from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of CDW Corp. in a research report on Tuesday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. CDW Corp. currently has a consensus rating of “Buy” and a consensus price target of $48.88.
Shares of CDW Corp. (NASDAQ:CDW) opened at 51.96 on Wednesday. The stock’s 50 day moving average price is $45.41 and its 200-day moving average price is $43.50. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 21.14 and a beta of 0.96. CDW Corp. has a 52-week low of $30.40 and a 52-week high of $51.96.
CDW Corp. (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.50 billion. CDW Corp. had a return on equity of 50.73% and a net margin of 2.95%. CDW Corp.’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, analysts forecast that CDW Corp. will post $3.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 25th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from CDW Corp.’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, November 22nd. CDW Corp.’s payout ratio is currently 17.62%.
In other news, insider Douglas E. Eckrote sold 80,000 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $44.04, for a total value of $3,523,200.00. Following the transaction, the insider now directly owns 179,089 shares of the company’s stock, valued at approximately $7,887,079.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baldwin Brothers Inc. MA purchased a new position in CDW Corp. during the third quarter worth $109,000. Pacer Advisors Inc. increased 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 increased 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 increased 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. increased 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. 92.03% of the stock is currently owned by institutional investors and hedge funds.
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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