CDW’s (CDW) Buy Rating Reaffirmed at Royal Bank of Canada
Royal Bank of Canada reissued their buy rating on shares of CDW (NASDAQ:CDW) in a report released on Monday morning. Royal Bank of Canada currently has a $80.00 price objective on the information technology services provider’s stock.
Other equities research analysts have also issued reports about the stock. Morgan Stanley raised their price objective on shares of CDW from $58.00 to $63.00 and gave the company an equal weight rating in a report on Thursday, November 2nd. Robert W. Baird restated a buy rating and issued a $75.00 price objective on shares of CDW in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of CDW from a hold rating to a sell rating in a research note on Wednesday, January 10th. ValuEngine upgraded shares of CDW from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Barclays reiterated a hold rating and set a $69.00 price target on shares of CDW in a research note on Sunday, November 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. CDW has an average rating of Buy and an average target price of $68.75.
Shares of CDW (NASDAQ CDW) traded up $0.15 on Monday, hitting $72.88. 669,300 shares of the stock were exchanged, compared to its average volume of 739,578. CDW has a fifty-two week low of $50.49 and a fifty-two week high of $74.01. The firm has a market cap of $11,155.22, a price-to-earnings ratio of 26.99 and a beta of 1.06. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15.
In other CDW news, insider Thomas E. Richards sold 15,207 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $66.25, for a total transaction of $1,007,463.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ann Elizabeth Ziegler sold 39,147 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.94, for a total transaction of $2,698,794.18. Following the transaction, the insider now directly owns 47,477 shares in the company, valued at $3,273,064.38. The disclosure for this sale can be found here. Insiders have sold a total of 101,524 shares of company stock worth $6,962,024 over the last quarter. 2.60% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Lloyds Banking Group plc purchased a new stake in shares of CDW in the third quarter valued at about $108,000. Toronto Dominion Bank boosted its holdings in shares of CDW by 24.8% in the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 392 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of CDW in the third quarter valued at about $257,000. Atria Investments LLC purchased a new stake in shares of CDW in the fourth quarter valued at about $313,000. Finally, Nordea Investment Management AB boosted its holdings in shares of CDW by 110.9% in the third quarter. Nordea Investment Management AB now owns 7,184 shares of the information technology services provider’s stock valued at $474,000 after acquiring an additional 3,777 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.
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CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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