CDW (NASDAQ:CDW) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of CDW (NASDAQ:CDW) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other analysts have also recently issued reports on CDW. JPMorgan Chase & Co. cut shares of CDW from a neutral rating to an underweight rating and set a $116.00 target price for the company. in a research note on Monday, August 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of CDW from a hold rating to a strong-buy rating and set a $113.00 target price for the company in a research note on Tuesday, August 6th. ValuEngine upgraded shares of CDW from a hold rating to a buy rating in a research note on Friday, September 20th. Morgan Stanley raised their target price on shares of CDW from $97.00 to $106.00 and gave the stock an equal weight rating in a research note on Friday, July 26th. Finally, Deutsche Bank assumed coverage on shares of CDW in a research note on Tuesday, June 11th. They set a buy rating and a $113.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $118.13.

Shares of NASDAQ CDW traded up $1.68 during mid-day trading on Tuesday, reaching $121.36. 5,183 shares of the company were exchanged, compared to its average volume of 2,900,865. The company’s 50-day simple moving average is $116.24 and its 200-day simple moving average is $109.02. The company has a quick ratio of 1.09, a current ratio of 1.28 and a debt-to-equity ratio of 3.57. The stock has a market capitalization of $17.43 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.65 and a beta of 1.09. CDW has a twelve month low of $74.32 and a twelve month high of $124.51.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.50 billion. CDW had a net margin of 4.07% and a return on equity of 82.78%. CDW’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 EPS. As a group, equities research analysts expect that CDW will post 5.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 23rd. CDW’s dividend payout ratio (DPR) is 23.14%.

In other CDW news, insider Neil B. Fairfield sold 2,118 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $118.12, for a total value of $250,178.16. Following the completion of the sale, the insider now owns 7,054 shares in the company, valued at approximately $833,218.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill M. Billhorn sold 500 shares of CDW stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $111.69, for a total transaction of $55,845.00. Following the completion of the sale, the insider now owns 14,755 shares of the company’s stock, valued at approximately $1,647,985.95. The disclosure for this sale can be found here. Insiders sold a total of 130,673 shares of company stock valued at $14,744,616 in the last quarter. Corporate insiders own 2.25% of the company’s stock.

Several large investors have recently modified their holdings of CDW. Nuveen Asset Management LLC raised its position in shares of CDW by 1,275.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,833,992 shares of the information technology services provider’s stock valued at $203,573,000 after buying an additional 1,700,702 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of CDW by 65.6% during the 1st quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock valued at $328,150,000 after purchasing an additional 1,354,651 shares during the last quarter. Invesco Ltd. grew its holdings in shares of CDW by 2,308.0% during the 2nd quarter. Invesco Ltd. now owns 913,715 shares of the information technology services provider’s stock valued at $101,423,000 after purchasing an additional 875,770 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of CDW by 4,756.9% during the 2nd quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock valued at $90,707,000 after purchasing an additional 800,346 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of CDW by 37.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,226,277 shares of the information technology services provider’s stock valued at $247,117,000 after purchasing an additional 604,539 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Analyst Recommendations for CDW (NASDAQ:CDW)

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