The financial analysts at StockNews.com, in a report that was published on Thursday, changed their recommendation for CDW (NASDAQ: CDW), which they had previously given as “hold,” to “buy.” Previously, they had given the recommendation “hold.”
Several additional equity research analysts have disclosed the results of their investigations concerning the company. Morgan Stanley upgraded CDW to an “overweight” rating in a research report published on Thursday, November 3, and raised its price objective for the stock from $200 to $210.00. JPMorgan Chase & Co., in a research report made public on Tuesday, December 20, increased their price target on CDW from $215.00 to $225.00 and categorized the stock as “overweight.” Raymond James decreased their target price for CDW from $220.00 to $200.00 in a research report made available to the public on Thursday, November 3. However, they continued to maintain an “outperform” rating on the stock despite this change in opinion. Citigroup assigned a “buy” rating to CDW in a research report distributed on Thursday, November 3. At the same time, the firm lowered its target price for the stock, which had previously been set at $220.00, to $210.00. Nine research analysts gave the company a positive recommendation to purchase their products. According to the data that Bloomberg provided, the current recommendation for CDW is “buy,” and the price goal that the vast majority of analysts have agreed upon is $209.57.
On Thursday, CDW stock increased $2.81 to $193.39, and a total of 686,236 shares were traded, a significant increase from the daily volume of 541,680 shares typical for CDW.
The value of the current ratio comes in at 1.29, while the value of the quick ratio comes in at 1.12, and the value of the debt-to-equity ratio comes in at 4.60. The stock currently trades at a price-to-earnings ratio of 25.41, a price-to-growth ratio of 1.40, and a beta value of 1.13. The market capitalization of the company is $26.18 billion. In addition, the PEG ratio of the business is 1.40. During the previous year, the cost of CDW fluctuated between $147.01 and $199.77, with a price of $199.77 serving the overall average. The stock has had a moving average price of $173.85 over the past 200 days, and the moving average price for the last 50 days is $183.40.
CDW (NASDAQ: CDW) provided a public announcement regarding the outcomes of its most recent quarterly financial report on November 2. The information technology services company reported earnings per share (EPS) of $2.47 for the quarter, which was $0.05 higher than the widely circulated estimate, which was $2.42. The initial estimate was $2.42. In addition, the company’s quarterly revenues came in at $6.22 billion, a little bit higher than the $6.21 billion that industry analysts had anticipated for its quarterly revenues. The return on equity for the company was 121.34%, and its net margin was 4.37%. During the current fiscal year, CDW is expected to generate earnings of $9.27 per share to the projections of equity research professionals.
In the most recent few months, several well-known shareholders have revised the percentages of ownership in the company they currently hold. Vanguard Group Inc. increased its CDW by 0.8% during the third quarter. Following the acquisition of an additional 120,738 shares during the period in question, Vanguard Group Inc. now has a total stock holding whose value is equal to $2,508,590,000 in the company that provides information technology services. The percentage of CDW holdings that State Street Corporation possessed increased by 0.5 percentage points over the third quarter. State Street Corp now owns 5,128,543 shares after purchasing an additional 26,442 shares during the most recent period, giving the company a market capitalization of $800,463,000. Finally, FMR LLC increased its holdings in CDW by an impressive 89.8% during the year’s second quarter. FMR LLC now has a total ownership stake in the information technology services provider’s firm equal to 4,868,526 shares after purchasing an additional 2,303,669 shares during the period. This results in a market capitalization of $767,086,000 for the company. Through the third quarter, Fiduciary Management Inc. (WI) increased the proportion of CDW shares that it owned by 12.7%. Fiduciary Management Inc. (WI), which owns a total of 1,675,953 shares of the stock of the information technology services provider, increased its holdings in the company during the most recent period by purchasing an additional 188,689 shares. The current value of these shares on the market is a total of $261,583,000. And finally, during the second quarter, JPMorgan Chase & Co. increased the amount of CDW shares that it held by 5.5%, bringing the total to 1.3 million. JPMorgan Chase & Co. now has a total of 1,427,776 shares of the stock of the information technology services provider, thanks to the acquisition of an additional 75,043 shares during the period. The value of these shares on the market as of right now is $224,962,000. The company’s stock is held collectively, as a whole, by institutional investors and hedge funds, which account for 92.78% of the total.
The United States of America, the United Kingdom of Great Britain, and Canada are served by CDW Corporation’s information technology (IT) solution offerings. It operates in corporate, small company, and public markets and has three distinct types of operational segments. The company offers a variety of information technology solutions, including digital workplaces, networking, and security, as well as individual pieces of hardware and software. On-premises, hybrid, or cloud-based deployment models are all viable options for these solutions. In addition to that, it offers unified solutions for information technology.