CDW (NASDAQ:CDW) Downgraded by BidaskClub to Buy

BidaskClub downgraded shares of CDW (NASDAQ:CDW) from a strong-buy rating to a buy rating in a report issued on Friday, BidAskClub reports.

A number of other research firms also recently commented on CDW. Zacks Investment Research upgraded CDW from a hold rating to a strong-buy rating and set a $113.00 price objective on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded CDW from a neutral rating to an underweight rating and set a $116.00 price objective on the stock. in a report on Monday, August 5th. They noted that the move was a valuation call. Morgan Stanley increased their price objective on CDW from $97.00 to $106.00 and gave the company an equal weight rating in a report on Friday, July 26th. Bank of America assumed coverage on CDW in a report on Tuesday, July 30th. They issued a buy rating and a $140.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on CDW from $118.00 to $132.00 and gave the company an outperform rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $118.13.

Shares of CDW traded down $0.06 during mid-day trading on Friday, reaching $123.91. The company’s stock had a trading volume of 684,310 shares, compared to its average volume of 2,670,837. CDW has a 12-month low of $74.32 and a 12-month high of $125.41. The stock has a market cap of $17.93 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09. The company’s 50 day moving average is $119.40 and its 200 day moving average is $111.04.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the business posted $1.38 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CDW will post 5.62 EPS for the current fiscal year.

In related news, insider Robert F. Kirby sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $111.60, for a total transaction of $145,080.00. Following the transaction, the insider now owns 32,470 shares in the company, valued at approximately $3,623,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas E. Richards sold 56,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $123.68, for a total value of $6,926,080.00. Following the transaction, the insider now owns 633,776 shares in the company, valued at approximately $78,385,415.68. The disclosure for this sale can be found here. Insiders have sold a total of 185,373 shares of company stock worth $21,519,610 in the last 90 days. 2.25% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. acquired a new stake in CDW during the 3rd quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in CDW during the 2nd quarter worth approximately $28,000. CSat Investment Advisory L.P. acquired a new stake in CDW during the 2nd quarter worth approximately $28,000. Berman Capital Advisors LLC lifted its position in CDW by 166.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 173 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its position in CDW by 478.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

About CDW

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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Analyst Recommendations for CDW (NASDAQ:CDW)

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