CDW (CDW) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of CDW (NASDAQ:CDW) from a hold rating to a buy rating in a research note released on Sunday, December 31st.

Several other equities analysts have also recently weighed in on CDW. BidaskClub raised CDW from a hold rating to a buy rating in a report on Thursday, September 28th. Needham & Company LLC reissued a buy rating and set a $71.00 price target on shares of CDW in a report on Monday, September 18th. Stifel Nicolaus restated a buy rating and set a $70.00 price objective on shares of CDW in a research report on Tuesday, September 12th. Robert W. Baird restated a buy rating and set a $75.00 price objective on shares of CDW in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded CDW from a hold rating to a buy rating and set a $78.00 price objective on the stock in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $67.85.

CDW (CDW) opened at $72.34 on Friday. The company has a debt-to-equity ratio of 4.20, a quick ratio of 1.15 and a current ratio of 1.37. CDW has a one year low of $50.49 and a one year high of $74.01. The company has a market capitalization of $11,070.00, a P/E ratio of 26.79 and a beta of 1.06.

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

In other news, insider Christina M. Corley sold 4,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $67.95, for a total value of $271,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas E. Richards sold 14,503 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $67.97, for a total value of $985,768.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,027 shares of company stock worth $7,930,673. 2.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in CDW by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the period. Financial Counselors Inc. boosted its holdings in shares of CDW by 16.7% in the second quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 621 shares during the period. ETRADE Capital Management LLC boosted its holdings in shares of CDW by 5.5% in the third quarter. ETRADE Capital Management LLC now owns 14,291 shares of the information technology services provider’s stock worth $943,000 after acquiring an additional 748 shares during the period. Jaffetilchin Investment Partners LLC boosted its holdings in shares of CDW by 7.9% in the third quarter. Jaffetilchin Investment Partners LLC now owns 12,538 shares of the information technology services provider’s stock worth $828,000 after acquiring an additional 921 shares during the period. Finally, Boston Advisors LLC boosted its holdings in shares of CDW by 1.9% in the third quarter. Boston Advisors LLC now owns 58,061 shares of the information technology services provider’s stock worth $3,832,000 after acquiring an additional 1,108 shares during the period. 90.55% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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