CDW Corp. (NASDAQ:CDW) had its price target raised by RBC Capital Markets to $50.00 in a research report issued on Tuesday. The firm presently has an “outperform” rating on the stock. RBC Capital Markets’ price objective suggests a potential upside of 11.14% from the company’s previous close.
Several other research firms have also issued reports on CDW. Raymond James Financial Inc. reissued a “market perform” rating on shares of CDW Corp. in a research note on Tuesday, August 2nd. Zacks Investment Research lowered CDW Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Barclays PLC reissued an “overweight” rating and set a $47.00 target price on shares of CDW Corp. in a research note on Friday, July 1st. Finally, Deutsche Bank AG increased their target price on CDW Corp. from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.27.
CDW Corp. (NASDAQ:CDW) last posted its earnings results on Wednesday, August 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company earned $0.81 EPS. CDW Corp.’s revenue was up 10.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were paid a dividend of $0.1075 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.43 dividend on an annualized basis and a yield of 0.96%. CDW Corp.’s dividend payout ratio is presently 16.80%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in shares of CDW Corp. during the second quarter valued at $14,403,000. State Street Corp increased its position in shares of CDW Corp. by 4.6% in the first quarter. State Street Corp now owns 2,373,947 shares of the company’s stock valued at $98,524,000 after buying an additional 103,330 shares during the period. Geode Capital Management LLC increased its position in shares of CDW Corp. by 5.0% in the first quarter. Geode Capital Management LLC now owns 947,956 shares of the company’s stock valued at $39,318,000 after buying an additional 44,946 shares during the period. Atlanta Capital Management Co. L L C increased its position in shares of CDW Corp. by 19.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,941,994 shares of the company’s stock valued at $163,593,000 after buying an additional 655,021 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of CDW Corp. by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 121,278 shares of the company’s stock valued at $5,033,000 after buying an additional 15,128 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.
About CDW Corp.
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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