A number of other brokerages have also commented on CDW. ValuEngine lowered CDW from a buy rating to a hold rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered CDW from a neutral rating to an underweight rating and set a $116.00 price objective for the company. in a research note on Monday, August 5th. They noted that the move was a valuation call. Zacks Investment Research raised CDW from a hold rating to a strong-buy rating and set a $113.00 price objective for the company in a research note on Tuesday, August 6th. Morgan Stanley set a $126.00 price objective on CDW and gave the company a hold rating in a research note on Friday, November 1st. Finally, Bank of America began coverage on CDW in a report on Tuesday, July 30th. They issued a buy rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. CDW presently has a consensus rating of Buy and an average price target of $120.63.
Shares of CDW traded up $0.59 during trading hours on Friday, reaching $133.52. 725,800 shares of the company’s stock traded hands, compared to its average volume of 1,011,129. The company has a current ratio of 1.33, a quick ratio of 1.14 and a debt-to-equity ratio of 3.57. CDW has a 12 month low of $74.32 and a 12 month high of $136.31. The firm’s 50 day simple moving average is $124.55 and its 200-day simple moving average is $113.61. The stock has a market cap of $19.51 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.
In other news, insider Thomas E. Richards sold 58,333 shares of CDW stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $112.17, for a total value of $6,543,212.61. Following the transaction, the insider now directly owns 636,109 shares in the company, valued at approximately $71,352,346.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert F. Kirby sold 1,300 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.90, for a total value of $142,870.00. The disclosure for this sale can be found here. Insiders have sold a total of 187,755 shares of company stock worth $21,978,265 over the last 90 days. 2.25% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of CDW. Machina Capital S.A.S. lifted its position in CDW by 8.9% during the 2nd quarter. Machina Capital S.A.S. now owns 2,336 shares of the information technology services provider’s stock worth $259,000 after acquiring an additional 191 shares during the period. Johnson Financial Group Inc. acquired a new stake in CDW during the 2nd quarter worth about $28,000. Brinker Capital Inc. acquired a new stake in CDW during the 3rd quarter worth about $651,000. Pacer Advisors Inc. lifted its position in CDW by 2,321.7% during the 3rd quarter. Pacer Advisors Inc. now owns 16,056 shares of the information technology services provider’s stock worth $1,979,000 after acquiring an additional 15,393 shares during the period. Finally, Putnam Investments LLC lifted its position in CDW by 1.5% during the 2nd quarter. Putnam Investments LLC now owns 115,976 shares of the information technology services provider’s stock worth $12,873,000 after acquiring an additional 1,712 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.
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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