CDW Corp. (CDW) Receives Average Recommendation of “Buy” from Analysts
Shares of CDW Corp. (NASDAQ:CDW) have been given a consensus rating of “Buy” by the eleven analysts that are covering the company. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.33.
A number of equities research analysts have commented on the stock. Deutsche Bank AG raised their price target on shares of CDW Corp. from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research cut shares of CDW Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 8th. JPMorgan Chase & Co. restated a “buy” rating and issued a $50.00 price target on shares of CDW Corp. in a report on Thursday, November 3rd. Raymond James Financial Inc. reiterated a “market perform” rating on shares of CDW Corp. in a report on Tuesday, August 2nd. Finally, Royal Bank Of Canada lifted their price objective on shares of CDW Corp. from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th.
Shares of CDW Corp. (NASDAQ:CDW) traded up 0.93% during midday trading on Friday, hitting $51.84. 298,294 shares of the stock were exchanged. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 21.09 and a beta of 0.96. The firm’s 50 day moving average is $46.06 and its 200-day moving average is $43.86. CDW Corp. has a 1-year low of $30.40 and a 1-year high of $52.30.
CDW Corp. (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The business earned $3.71 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CDW Corp. had a net margin of 2.95% and a return on equity of 50.73%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. On average, analysts predict that CDW Corp. will post $3.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be given a dividend of $0.16 per share. 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 1.25%. The ex-dividend date of this dividend is Tuesday, November 22nd. CDW Corp.’s dividend payout ratio (DPR) is presently 26.23%.
In related news, insider Douglas E. Eckrote sold 80,000 shares of the firm’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $44.04, for a total transaction of $3,523,200.00. Following the transaction, the insider now directly owns 179,089 shares of the company’s stock, valued at $7,887,079.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Hershey Trust Co. bought a new stake in shares of CDW Corp. during the second quarter valued at approximately $208,000. IBM Retirement Fund raised its stake in shares of CDW Corp. by 23.8% in the second quarter. IBM Retirement Fund now owns 16,435 shares of the company’s stock valued at $659,000 after buying an additional 3,156 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of CDW Corp. during the second quarter valued at approximately $19,647,000. Capital One National Association bought a new stake in shares of CDW Corp. during the second quarter valued at approximately $1,473,000. Finally, First National Bank of Omaha raised its stake in shares of CDW Corp. by 1.9% in the second quarter. First National Bank of Omaha now owns 157,773 shares of the company’s stock valued at $6,324,000 after buying an additional 2,868 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.
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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.
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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