Category: CDW – CDW Corporation Common Stock

CDW Inks Deal To Buy Amplified IT; Street Says Buy

CDW Corporation, a multi-brand technology solutions provider, has agreed to snap up Amplified IT, a leading education-focused consultancy for an undisclosed sum. CDW (CDW) expects the deal to be minimally accretive to adjusted EPS for the year 2021. The financial terms and other details of the deal were not disclosed. Virginia-based Amplified IT, a Google Premium education partner, works with its team of Google Cloud professionals to provide insights, services, consulting, and solutions to help schools get the most out of the Google Cloud. CDW CEO Christine A. Leahy said, “The combination of Amplified IT’s focus on educator support and technical skills with CDW’s scale, reach, and leading market position in education will accelerate our collective ability to help schools leverage technology to achieve even greater educational outcomes.” (See CDW stock analysis on TipRanks) Last month, CDW reported 4Q results. The company’s 4Q adjusted earnings climbed 16% year-over-year to reach $1.82 per share and outpaced Street estimates of $1.51. Net sales increased 9.2% to $4.96 billion and exceeded analysts’ expectations of $4.39 billion. On Feb. 11, Credit Suisse analyst Matthew Cabral increased the stock’s price target to $175 (8.7% upside potential) from $150 and maintained a Buy rating. Cabral said, “CDW delivered a very strong end to 2020, with revenue/EPS coming in well above estimates.” CDW shares have exploded 84.4% over the past year, while the stock still scores a Strong Buy consensus rating based on 4 unanimous Buys. That’s alongside an average analyst price target of $173.50, which implies 7.8% upside potential to current levels. On top of this, CDW scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Related News: Jabil’s Sales Guidance Tops Estimates After 2Q Beat; Shares Jump Pre-Market Southwest Airlines Provides Operational And Financial Business Update; Shares Gain Johnson & Johnson’s Single-Dose COVID-19 Vaccine Granted Emergency Use Listing By WHO More recent articles from Smarter Analyst: Smartsheet Posts Better-Than-Feared Quarterly Loss, Sales Outperform NuVasive Expands Partnership With ISSGF Catalyst Pharma 4Q Revenue, Earnings Outperform Estimates Westport Fuel Rises 6% Pre-Market On Better-Than-Expected 4Q Showing