CDW Corporation (CDW) PT Set at $71.00 by Robert W. Baird
CDW Corporation (NASDAQ:CDW) has been given a $71.00 price objective by analysts at Robert W. Baird in a report released on Thursday. The firm currently has a “buy” rating on the information technology services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 12.16% from the stock’s previous close.
A number of other brokerages have also issued reports on CDW. Royal Bank Of Canada raised their target price on CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Zacks Investment Research lowered CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Barclays PLC lowered CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research note on Monday, July 24th. BidaskClub lowered CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Northcoast Research began coverage on CDW Corporation in a research note on Monday, April 24th. They issued a “buy” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.06.
Shares of CDW Corporation (CDW) traded down 1.63% during mid-day trading on Thursday, hitting $63.30. The company had a trading volume of 557,498 shares. CDW Corporation has a 1-year low of $43.46 and a 1-year high of $66.33. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 25.75 and a beta of 1.08. The company has a 50-day moving average price of $63.13 and a 200-day moving average price of $59.25.
CDW Corporation (NASDAQ:CDW) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a return on equity of 56.91% and a net margin of 2.95%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, equities analysts anticipate that CDW Corporation will post $3.82 EPS for the current year.
CDW Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other CDW Corporation news, insider Jonathan J. Stevens sold 6,700 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $60.93, for a total transaction of $408,231.00. Following the sale, the insider now directly owns 96,040 shares of the company’s stock, valued at approximately $5,851,717.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina M. Corley sold 4,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $59.01, for a total value of $236,040.00. Following the sale, the insider now directly owns 71,843 shares in the company, valued at $4,239,455.43. The disclosure for this sale can be found here. Insiders have sold a total of 77,133 shares of company stock worth $4,757,684 over the last ninety days. 2.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC boosted its stake in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares during the period. James Investment Research Inc. acquired a new stake in CDW Corporation during the first quarter worth approximately $153,000. Creative Planning boosted its stake in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares during the period. Commerce Bank acquired a new stake in CDW Corporation during the first quarter worth approximately $211,000. Finally, Brown Advisory Securities LLC acquired a new stake in CDW Corporation during the first quarter worth approximately $212,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.
CDW Corporation Company Profile
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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