CDW (NASDAQ:CDW) Price Target Raised to $132.00 at Credit Suisse Group

CDW (NASDAQ:CDW) had its target price increased by Credit Suisse Group from $118.00 to $132.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Evercore ISI initiated coverage on shares of CDW in a research report on Wednesday, June 5th. They issued an outperform rating and a $120.00 price target for the company. Morgan Stanley boosted their price target on shares of CDW from $97.00 to $106.00 and gave the company an equal weight rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of CDW from a hold rating to a strong-buy rating and set a $125.00 price target for the company in a research report on Tuesday, May 7th. Stifel Nicolaus cut shares of CDW from a buy rating to a hold rating and boosted their price target for the company from $100.00 to $105.00 in a research report on Wednesday, April 17th. Finally, BidaskClub raised shares of CDW from a hold rating to a buy rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $120.14.

Shares of CDW opened at $111.69 on Thursday. CDW has a 1-year low of $74.32 and a 1-year high of $120.82. The stock has a market capitalization of $16.84 billion, a PE ratio of 21.90, a PEG ratio of 1.81 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The company has a fifty day moving average of $111.76.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 81.06%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the company earned $1.38 earnings per share. CDW’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that CDW will post 5.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.295 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.06%. CDW’s payout ratio is 23.14%.

In other news, insider Collin B. Kebo sold 3,600 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $106.28, for a total value of $382,608.00. Following the completion of the sale, the insider now directly owns 22,352 shares of the company’s stock, valued at $2,375,570.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert F. Kirby sold 1,300 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.22, for a total transaction of $151,086.00. Following the completion of the sale, the insider now directly owns 35,070 shares of the company’s stock, valued at $4,075,835.40. The disclosure for this sale can be found here. Insiders sold 139,534 shares of company stock valued at $14,332,814 over the last ninety days. Corporate insiders own 2.25% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Comerica Bank grew its position in CDW by 1,845.5% during the second quarter. Comerica Bank now owns 137,817 shares of the information technology services provider’s stock worth $15,638,000 after buying an additional 130,733 shares during the period. Envestnet Asset Management Inc. grew its position in CDW by 231.7% during the second quarter. Envestnet Asset Management Inc. now owns 487,467 shares of the information technology services provider’s stock worth $54,109,000 after buying an additional 340,517 shares during the period. Candriam Luxembourg S.C.A. grew its position in CDW by 7.8% during the second quarter. Candriam Luxembourg S.C.A. now owns 20,147 shares of the information technology services provider’s stock worth $2,227,000 after buying an additional 1,450 shares during the period. Cullen Frost Bankers Inc. grew its position in CDW by 478.4% during the second quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock worth $33,000 after buying an additional 244 shares during the period. Finally, FinTrust Capital Advisors LLC grew its position in CDW by 74.6% during the second quarter. FinTrust Capital Advisors LLC now owns 613 shares of the information technology services provider’s stock worth $68,000 after buying an additional 262 shares during the period. 91.70% of the stock is owned by institutional investors and hedge funds.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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