On August 25, CDW Corp rose 6.59% in regular trading, trading at $140.19/share, with turnover of $88.408 million. The stock led the Technology Distributors sector higher on news of geographic expansion and broader industry tailwinds.
On the news front, CDW's Canadian subsidiary opened a new office in Calgary to support projects across cloud computing, cybersecurity, artificial intelligence, hybrid infrastructure, and modern workspace solutions. The company also refreshed its office spaces in Vancouver and Edmonton as part of continued investment in Western Canada, signaling commitment to expanding its regional footprint.
The broader Technology Distributors sector rallied in tandem, with Insight Enterprises up 3.73%, Ingram Micro up 3.17%, and Synnex up 2.70%, while CDW outpaced all peers. The move also follows a strong Q2 report in early August where CDW posted adjusted EPS of $2.91, beating the $2.80 consensus by 3.93%, on revenue of $6.572 billion versus the $6.206 billion estimate. Morgan Stanley maintains an Overweight rating with a $171 price target, noting the stock trades at approximately 11.5x its estimated earnings versus a fair value of around 15x.
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