CDW: Hold + Reduce with a $132.19 price target

Year-to-date profit has improved, but profit is running ahead of cash.

Target for 2027-09-15: $132.19 USD, -14.0% versus the $153.79 weekly close on 2026-09-11. Price return only; dividends, fees and tax excluded.

Over 1 year (2025-09-12 to 2026-09-11), price changed -6.4% and trailing EPS changed +4.4%. A wider gap changes the earnings multiple; it does not establish fair value.

Across 2 completed quarters since 2025-12-31, net income was 509.8m versus 496.1m in the matching prior-year periods (USD). Check whether the latest quarter changes that direction.

Over one year, the stock changed -6.4% against -30.7% for Technology (XLK). The gap is +24.3 percentage points. These are price returns, before dividends.

Over the latest four quarters, operating cash was 0.91 times net income. Review receivables, inventory and non-cash charges before judging the gap.

Receivables changed +27.5%; Inventory changed +28.9%, against sales of +10.0%, from the same quarter last year. This can tie up cash. Acquisitions, payment timing and seasonality also need checking.

The latest quarterly margin changed -0.5 percentage points from a year earlier. Check sales volumes, pricing and unusual gains in the next filing.

Recheck the valuation gap alongside profitability and growth after new results. A discount alone does not establish value.

Compare the stock and the market fund over the same dates. Look for a change in relative performance as results arrive.

Starting annual sales growth: 7.76%.

Long-term operating margin: 7.34%.

Review recorded on 2026-09-17. This is a dated summary of an automated company valuation. The full report includes the financial evidence, alternative scenarios and review history. Consult the latest report before using an earlier target. Automated model research, not personal investment advice. Targets depend on assumptions; returns are not guaranteed.