CDW (NASDAQ:CDW) Receives $109.86 Consensus Price Target from Brokerages
Shares of CDW (NASDAQ:CDW) have been assigned a consensus rating of “Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $109.86.
Several equities analysts have recently issued reports on CDW shares. Northcoast Research reiterated a “buy” rating on shares of MarineMax in a research report on Friday, April 26th. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Stifel Nicolaus set a $80.00 price target on CSX and gave the company a “hold” rating in a research report on Wednesday, April 17th. Evercore ISI started coverage on Sensata Technologies in a research report on Wednesday, June 5th. They set an “in-line” rating and a $50.00 price target on the stock. Finally, Deutsche Bank set a $60.00 price target on Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, June 11th.
Shares of CDW stock traded down $1.56 during mid-day trading on Tuesday, hitting $114.36. 791,903 shares of the stock traded hands, compared to its average volume of 791,196. CDW has a twelve month low of $74.32 and a twelve month high of $116.47. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 22.42 and a beta of 1.11. The stock’s 50-day simple moving average is $107.91. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61.
In related news, insider Thomas E. Richards sold 16,636 shares of CDW stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $105.32, for a total value of $1,752,103.52. Following the transaction, the insider now directly owns 643,899 shares in the company, valued at approximately $67,815,442.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas E. Richards sold 66,667 shares of CDW stock in a transaction on Friday, May 31st. The stock was sold at an average price of $99.67, for a total value of $6,644,699.89. Following the completion of the transaction, the insider now owns 644,443 shares in the company, valued at $64,231,633.81. The disclosure for this sale can be found here. Insiders sold a total of 154,870 shares of company stock worth $15,933,831 over the last 90 days. Insiders own 2.25% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of CDW in the fourth quarter worth $117,816,000. AQR Capital Management LLC boosted its position in shares of CDW by 65.6% in the first quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock worth $328,150,000 after buying an additional 1,354,651 shares during the period. Millennium Management LLC boosted its position in shares of CDW by 398.5% in the fourth quarter. Millennium Management LLC now owns 643,285 shares of the information technology services provider’s stock worth $52,138,000 after buying an additional 514,231 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of CDW in the first quarter worth $43,686,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of CDW by 208.7% in the first quarter. The Manufacturers Life Insurance Company now owns 529,600 shares of the information technology services provider’s stock worth $51,038,000 after buying an additional 358,029 shares during the period. Institutional investors and hedge funds own 91.26% of the company’s stock.
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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