CDW Corp. (NASDAQ:CDW) had its price target increased by RBC Capital Markets to $50.00 in a research report sent to investors on Tuesday. RBC Capital Markets currently has an outperform rating on the stock.
Several other equities research analysts have also recently commented on the company. Raymond James Financial Inc. reaffirmed a market perform rating on shares of CDW Corp. in a report on Tuesday, August 2nd. Zacks Investment Research raised CDW Corp. from a sell rating to a hold rating in a report on Wednesday, June 22nd. Barclays PLC reaffirmed an overweight rating and issued a $47.00 price target on shares of CDW Corp. in a report on Friday, July 1st. Finally, Deutsche Bank AG increased their price target on CDW Corp. from $43.00 to $48.00 and gave the company a buy rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $46.27.
Shares of CDW Corp. (NASDAQ:CDW) traded up 0.4707% during mid-day trading on Tuesday, reaching $44.4784. The company had a trading volume of 80,279 shares. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 17.2732 and a beta of 0.95. The stock has a 50 day moving average of $45.12 and a 200-day moving average of $42.76. CDW Corp. has a 52 week low of $30.40 and a 52 week high of $47.50.
CDW Corp. (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.85 by $0.08. CDW Corp. had a return on equity of 46.02% and a net margin of 3.18%. The firm earned $3.66 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts expect that CDW Corp. will post $3.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, August 25th were paid a $0.1075 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.97%. CDW Corp.’s payout ratio is presently 16.80%.
Several large investors have recently modified their holdings of the stock. Aperio Group LLC boosted its stake in shares of CDW Corp. by 24.2% in the first quarter. Aperio Group LLC now owns 21,764 shares of the company’s stock worth $903,000 after buying an additional 4,234 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of CDW Corp. by 9.4% in the first quarter. IFP Advisors Inc now owns 2,819 shares of the company’s stock worth $117,000 after buying an additional 242 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of CDW Corp. by 10.5% in the first quarter. Ngam Advisors L.P. now owns 57,676 shares of the company’s stock worth $2,393,000 after buying an additional 5,494 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of CDW Corp. by 1.4% in the first quarter. TIAA CREF Investment Management LLC now owns 765,190 shares of the company’s stock worth $31,755,000 after buying an additional 10,475 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of CDW Corp. by 2.7% in the first quarter. BlackRock Group LTD now owns 836,638 shares of the company’s stock worth $34,720,000 after buying an additional 21,640 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.
About CDW Corp.