CDW (CDW) Rating Reiterated by Royal Bank of Canada

CDW (NASDAQ:CDW)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Monday. They currently have a $80.00 price objective on the information technology services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.88% from the stock’s previous close.

CDW has been the topic of several other research reports. Robert W. Baird reissued a “buy” rating and set a $75.00 price target on shares of CDW in a research report on Wednesday, November 1st. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub raised shares of CDW from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 target price on shares of CDW in a report on Tuesday, October 17th. Finally, Barclays reaffirmed a “hold” rating and issued a $69.00 target price on shares of CDW in a report on Sunday, November 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.75.

Shares of CDW (CDW) traded down $0.73 on Monday, hitting $72.15. 608,700 shares of the stock traded hands, compared to its average volume of 726,490. The firm has a market capitalization of $11,155.22, a PE ratio of 26.72 and a beta of 1.06. CDW has a 1-year low of $50.49 and a 1-year high of $74.01. 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 (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.99 billion. CDW had a net margin of 2.90% and a return on equity of 62.71%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. equities research analysts forecast that CDW will post 3.64 EPS for the current year.

In other CDW news, insider Christina V. Rother sold 7,702 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $66.71, for a total value of $513,800.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ann Elizabeth Ziegler sold 39,147 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $68.94, for a total transaction of $2,698,794.18. Following the completion of the transaction, the insider now owns 47,477 shares in the company, valued at $3,273,064.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,524 shares of company stock worth $6,962,024. 2.60% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in CDW by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock valued at $52,315,000 after purchasing an additional 13,336 shares during the last quarter. Nationwide Fund Advisors increased its stake in CDW by 152.7% in the second quarter. Nationwide Fund Advisors now owns 265,340 shares of the information technology services provider’s stock valued at $16,592,000 after purchasing an additional 160,340 shares during the last quarter. Ameriprise Financial Inc. increased its stake in CDW by 7.9% in the second quarter. Ameriprise Financial Inc. now owns 197,811 shares of the information technology services provider’s stock valued at $12,371,000 after purchasing an additional 14,442 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in CDW by 89.6% in the third quarter. Canada Pension Plan Investment Board now owns 116,800 shares of the information technology services provider’s stock valued at $7,709,000 after purchasing an additional 55,200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in CDW in the third quarter valued at approximately $2,144,000. Institutional investors own 90.63% of the company’s stock.

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CDW 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.

Analyst Recommendations for CDW (NASDAQ:CDW)

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