Price Change to Note: Could CDW Corp Go Down After Reaching All Time High?

Price Change to Note: Could CDW Corp Go Down After Reaching All Time High?

The stock of CDW Corp (NASDAQ:CDW) reached all time high today, Nov, 29 and still has $54.19 target or 4.00% above today’s $52.11 share price. This indicates more upside for the $8.34 billion company. This technical setup was reported by Barchart.com. If the $54.19 PT is reached, the company will be worth $333.60 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 393,704 shares traded hands. CDW Corp (NASDAQ:CDW) has risen 26.65% since April 26, 2016 and is uptrending. It has outperformed by 21.39% the S&P500.

Analysts await CDW Corp (NASDAQ:CDW) to report earnings on February, 14. They expect $0.76 earnings per share, up 10.14% or $0.07 from last year’s $0.69 per share. CDW’s profit will be $121.64M for 17.14 P/E if the $0.76 EPS becomes a reality. After $0.93 actual earnings per share reported by CDW Corp for the previous quarter, Wall Street now forecasts -18.28% negative EPS growth.

CDW Corp (NASDAQ:CDW) Ratings Coverage

Out of 8 analysts covering CDW (NASDAQ:CDW), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. CDW has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Monday, April 25, the company rating was downgraded by Raymond James. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, November 5. Stifel Nicolaus maintained CDW Corp (NASDAQ:CDW) on Wednesday, October 14 with “Buy” rating. The stock of CDW Corp (NASDAQ:CDW) has “Hold” rating given on Thursday, August 6 by Zacks. The rating was maintained by RBC Capital Markets on Tuesday, August 4 with “Outperform”. Barclays Capital initiated it with “Overweight” rating and $50 target price in Wednesday, October 14 report. As per Thursday, August 4, the company rating was maintained by Deutsche Bank. Needham maintained it with “Buy” rating and $50 target price in Thursday, November 5 report. On Tuesday, December 1 the stock rating was initiated by Goldman Sachs with “Buy”. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, November 16 report.

According to Zacks Investment Research, “CDW Corporation offers information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company’s software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing. CDW Corporation is headquartered in Vernon Hills, Illinois.”

Insitutional Activity: The institutional sentiment decreased to 0.9 in 2016 Q2. Its down 0.78, from 1.68 in 2016Q1. The ratio dropped, as 30 funds sold all CDW Corp shares owned while 80 reduced positions. 61 funds bought stakes while 124 increased positions. They now own 144.07 million shares or 2.45% more from 140.62 million shares in 2016Q1.
Commerzbank Aktiengesellschaft Fi has invested 0% of its portfolio in CDW Corp (NASDAQ:CDW). Commonwealth Natl Bank Of Australia holds 0% or 900 shares in its portfolio. The New York-based Spark Invest Ltd has invested 0.18% in CDW Corp (NASDAQ:CDW). Hbk Invests L P owns 39,302 shares or 0.01% of their US portfolio. Nordea Mgmt Ab holds 0% of its portfolio in CDW Corp (NASDAQ:CDW) for 3,407 shares. Bahl And Gaynor owns 299,405 shares or 0.16% of their US portfolio. Clinton Grp holds 188,503 shares or 0.33% of its portfolio. Moreover, Essex Invest Llc has 0.14% invested in CDW Corp (NASDAQ:CDW) for 20,731 shares. Century, a Missouri-based fund reported 2.35M shares. Bridgeway Cap Mgmt Inc last reported 137,900 shares in the company. Horizon Ser Llc holds 2.4% of its portfolio in CDW Corp (NASDAQ:CDW) for 118,548 shares. Secor Advisors L P last reported 25,889 shares in the company. Moreover, Madison Inv Hldgs Inc has 1.21% invested in CDW Corp (NASDAQ:CDW) for 1.46 million shares. Stifel Fincl Corp holds 0.04% or 232,733 shares in its portfolio. Alliancebernstein L P holds 1.58M shares or 0.05% of its portfolio.

Insider Transactions: Since November 3, 2016, the stock had 0 buys, and 1 sale for $3.52 million net activity. $3.52M worth of CDW Corp (NASDAQ:CDW) was sold by ECKROTE DOUGLAS E on Thursday, November 3.

Another recent and important CDW Corp (NASDAQ:CDW) news was published by Zacks.com which published an article titled: “CDW Corp. (CDW) Q3 Earnings: Will it Pull Off a Surprise?” on October 31, 2016.

CDW Company Profile

CDW Corporation (CDW), incorporated on May 25, 2007, is a well-known provider of integrated information technology (IT) solutions in the United States and Canada. The Company’s divisions include Corporate, Public and Other. The Corporate segment consists of private sector business clients in the United States. The Corporate segment is divided into a medium/large business customer channel, serving clients with approximately 100 employees and a small business customer channel, serving clients with over 100 employees. The Public segment consists of government agencies and education and healthcare institutions in the United States. The Other segment includes CDW Advanced Services, Canada and Kelway. The CDW Advanced Services business consists of customized engineering services delivered by technology specialists and engineers, and managed services that include infrastructure as a service (IaaS) offerings. The Firm has centralized logistics and headquarters functions that provide services to the divisions. The logistics function includes purchasing, distribution and fulfillment services to support both the Corporate and Public divisions. The centralized headquarters function provides services in areas, such as accounting, information technology, marketing, legal and coworker services.

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