Deutsche Bank initiated coverage on shares of CDW (NASDAQ:CDW) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $113.00 price target on the information technology services provider’s stock. Deutsche Bank’s target price indicates a potential upside of 7.24% from the company’s previous close.
CDW has been the topic of several other research reports. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Credit Suisse Group began coverage on shares of CDW in a report on Thursday, April 11th. They set an “outperform” rating and a $117.00 price objective on the stock. Northcoast Research downgraded shares of CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Finally, Stifel Nicolaus downgraded shares of CDW from a “buy” rating to a “hold” rating and upped their price objective for the company from $100.00 to $105.00 in a report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $107.75.
CDW opened at $105.37 on Tuesday. CDW has a 52-week low of $74.32 and a 52-week high of $111.59. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29. The stock has a market cap of $15.46 billion, a PE ratio of 20.05 and a beta of 1.08.
In other news, insider Thomas E. Richards sold 16,636 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $105.32, for a total transaction of $1,752,103.52. Following the sale, the insider now owns 643,899 shares of the company’s stock, valued at approximately $67,815,442.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert F. Kirby sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $102.86, for a total transaction of $133,718.00. Following the sale, the insider now directly owns 37,670 shares in the company, valued at approximately $3,874,736.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,203 shares of company stock worth $8,913,129. 2.25% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of CDW during the 1st quarter worth approximately $2,352,000. Clearbridge Investments LLC lifted its position in shares of CDW by 0.4% during the 1st quarter. Clearbridge Investments LLC now owns 692,979 shares of the information technology services provider’s stock valued at $66,782,000 after buying an additional 2,605 shares in the last quarter. GYL Financial Synergies LLC purchased a new position in shares of CDW during the 1st quarter valued at approximately $572,000. EP Wealth Advisors LLC purchased a new position in shares of CDW during the 1st quarter valued at approximately $208,000. Finally, Merit Financial Group LLC lifted its position in shares of CDW by 9.8% during the 1st quarter. Merit Financial Group LLC now owns 4,634 shares of the information technology services provider’s stock valued at $446,000 after buying an additional 412 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
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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