Today’s Price Action: CDW Corp’s Stock Is Buy After Making 52-Week High

Today's Price Action: CDW Corp's Stock Is Buy After Making 52 Week High

The stock of CDW Corp (NASDAQ:CDW) hit a new 52-week high and has $54.26 target or 4.00% above today’s $52.17 share price. The 9 months bullish chart indicates low risk for the $8.35B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $54.26 price target is reached, the company will be worth $334.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 264,098 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 $121.64 million for 17.16 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. $55 is the highest target while $43 is the lowest. The $48.44 average target is -7.15% below today’s ($52.17) stock price. CDW has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of CDW Corp (NASDAQ:CDW) earned “Buy” rating by Needham on Thursday, November 5. The firm earned “Outperform” rating on Thursday, November 5 by RBC Capital Markets. On Thursday, August 4 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of CDW Corp (NASDAQ:CDW) has “Outperform” rating given on Tuesday, October 13 by RBC Capital Markets. The firm has “Overweight” rating given on Wednesday, October 14 by Barclays Capital. The firm has “Market Perform” rating by Raymond James given on Monday, April 25. Deutsche Bank maintained the shares of CDW in a report on Sunday, September 6 with “Buy” rating. Raymond James maintained the shares of CDW in a report on Tuesday, August 4 with “Buy” rating. The stock of CDW Corp (NASDAQ:CDW) earned “Buy” rating by Stifel Nicolaus on Wednesday, October 14. Zacks upgraded it to “Hold” rating and $44 target price in Thursday, August 6 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 turned negative, 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.
Pictet Asset Mgmt reported 55,000 shares or 0.01% of all its holdings. Bnp Paribas Investment Partners owns 104,183 shares or 0.04% of their US portfolio. Zebra Cap Mngmt Ltd Com accumulated 0.36% or 25,672 shares. Advsr Asset holds 29,465 shares or 0.02% of its portfolio. Commerzbank Aktiengesellschaft Fi last reported 8,443 shares in the company. Mariner Wealth Advsrs Lc last reported 0.02% of its portfolio in the stock. Benjamin F Edwards & Inc accumulated 0% or 139 shares. Moreover, Goldman Sachs Group has 0.01% invested in CDW Corp (NASDAQ:CDW) for 825,354 shares. Capital Fund Mgmt holds 74,562 shares or 0.03% of its portfolio. Hbk Invests Lp holds 0.01% of its portfolio in CDW Corp (NASDAQ:CDW) for 39,302 shares. Hilltop Hldgs last reported 0.07% of its portfolio in the stock. Moreover, Foundation Asset Mngmt Lp has 4.54% invested in CDW Corp (NASDAQ:CDW) for 340,000 shares. Westpac Banking Corp has 12,190 shares for 0% of their US portfolio. Etrade Capital Limited Liability Corporation owns 14,210 shares or 0.03% of their US portfolio. Amica Pension Fund Board Of Trustees accumulated 34,983 shares or 0.18% of the stock.

Insider Transactions: Since November 3, 2016, the stock had 0 insider buys, and 1 sale for $3.52 million net activity. ECKROTE DOUGLAS E sold $3.52 million worth of stock or 80,000 shares.

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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