RBC Capital Markets Reiterates Buy Rating for CDW Corp. (CDW)
CDW Corp. (NASDAQ:CDW)‘s stock had its “buy” rating reaffirmed by stock analysts at RBC Capital Markets in a report released on Friday. They presently have a $48.00 price target on the stock. RBC Capital Markets’ target price points to a potential upside of 5.17% from the stock’s previous close.
A number of other research analysts also recently issued reports on CDW. Barclays PLC reiterated an “overweight” rating and set a $47.00 price objective on shares of CDW Corp. in a research note on Friday, July 1st. Royal Bank Of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of CDW Corp. in a research note on Thursday, May 19th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of CDW Corp. in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded CDW Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Deutsche Bank AG upped their price target on CDW Corp. from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.09.
CDW Corp. (NASDAQ:CDW) opened at 45.64 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of 17.72 and a beta of 0.95. CDW Corp. has a 1-year low of $30.40 and a 1-year high of $46.92. The firm’s 50 day moving average is $44.67 and its 200 day moving average is $42.21.
CDW Corp. (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. CDW Corp. had a net margin of 3.18% and a return on equity of 46.02%. The firm earned $3.66 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that CDW Corp. will post $3.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were issued a dividend of $0.1075 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.43 annualized dividend and a yield of 0.94%. CDW Corp.’s payout ratio is presently 16.80%.
A number of hedge funds have recently added to or reduced their stakes in CDW. FMR LLC raised its stake in CDW Corp. by 1.6% in the second quarter. FMR LLC now owns 19,522,620 shares of the company’s stock valued at $782,467,000 after buying an additional 301,980 shares during the last quarter. Vanguard Group Inc. raised its stake in CDW Corp. by 6.3% in the second quarter. Vanguard Group Inc. now owns 13,243,713 shares of the company’s stock worth $530,808,000 after buying an additional 783,804 shares during the last quarter. Atlanta Capital Management Co. L L C raised its stake in CDW Corp. by 14.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,500,296 shares of the company’s stock worth $180,371,000 after buying an additional 558,302 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in CDW Corp. by 10.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,962,618 shares of the company’s stock worth $158,822,000 after buying an additional 360,691 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in CDW Corp. by 1.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,300,293 shares of the company’s stock worth $132,276,000 after buying an additional 58,894 shares during the last quarter. Institutional investors own 90.29% 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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