CDW (CDW) Earns Buy Rating from Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of CDW (NASDAQ:CDW) in a research report sent to investors on Monday morning. The brokerage currently has a $80.00 price objective on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. ValuEngine upgraded CDW from a hold rating to a buy rating in a report on Sunday, December 31st. Robert W. Baird restated a buy rating and set a $75.00 price target on shares of CDW in a report on Wednesday, November 1st. Zacks Investment Research upgraded CDW from a hold rating to a buy rating and set a $78.00 price target on the stock in a report on Monday, October 30th. Stifel Nicolaus restated a buy rating and set a $70.00 price target on shares of CDW in a report on Tuesday, October 17th. Finally, BidaskClub upgraded CDW from a hold rating to a buy rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $68.75.

CDW (CDW) traded up $1.27 during trading hours on Monday, reaching $75.06. 241,278 shares of the company’s stock were exchanged, compared to its average volume of 711,192. The firm has a market cap of $11,490.00, a P/E ratio of 27.80 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. CDW has a twelve month low of $50.49 and a twelve month high of $74.11.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.99 billion. CDW had a net margin of 2.90% and a return on equity of 62.71%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. research analysts expect that CDW will post 3.64 EPS for the current fiscal year.

In related news, insider Thomas E. Richards sold 15,207 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $66.25, for a total value of $1,007,463.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas E. Richards sold 14,368 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $68.50, for a total value of $984,208.00. Following the completion of the transaction, the insider now owns 670,391 shares in the company, valued at $45,921,783.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,245 shares of company stock worth $7,962,697. 2.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lloyds Banking Group plc purchased a new stake in CDW in the 3rd quarter valued at $108,000. Toronto Dominion Bank raised its position in CDW by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 392 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in CDW in the 3rd quarter valued at $257,000. Atria Investments LLC purchased a new stake in CDW in the 4th quarter valued at $313,000. Finally, BKD Wealth Advisors LLC raised its position in CDW by 15.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 6,460 shares of the information technology services provider’s stock valued at $449,000 after buying an additional 880 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

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About CDW

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.

Analyst Recommendations for CDW (NASDAQ:CDW)

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