CDW (NASDAQ:CDW) Price Target Raised to $205.00

CDW (NASDAQ:CDW - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $185.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the information technology services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 14.02% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. UBS Group dropped their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup upped their target price on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of "Hold" and an average target price of $215.86.

CDW Stock Up 2.3%

CDW stock traded up $4.07 on Thursday, hitting $179.80. 486,714 shares of the stock traded hands, compared to its average volume of 1,234,026. The business's fifty day simple moving average is $179.52 and its 200 day simple moving average is $175.70. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The firm has a market cap of $23.68 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. CDW has a 1 year low of $137.31 and a 1 year high of $239.48.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the firm posted $1.92 EPS. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CDW will post 9.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider directly owned 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On CDW

A number of institutional investors and hedge funds have recently modified their holdings of CDW. Proficio Capital Partners LLC raised its stake in shares of CDW by 5.5% during the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider's stock valued at $687,000 after acquiring an additional 205 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of CDW by 16.0% in the 4th quarter. Farther Finance Advisors LLC now owns 681 shares of the information technology services provider's stock worth $119,000 after acquiring an additional 94 shares during the last quarter. Cibc World Markets Corp boosted its holdings in CDW by 13.5% during the fourth quarter. Cibc World Markets Corp now owns 23,972 shares of the information technology services provider's stock worth $4,172,000 after purchasing an additional 2,842 shares during the last quarter. Signaturefd LLC boosted its stake in CDW by 2.7% in the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock valued at $471,000 after acquiring an additional 72 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in CDW by 18.9% in the fourth quarter. PDS Planning Inc now owns 1,410 shares of the information technology services provider's stock valued at $245,000 after acquiring an additional 224 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.