Raymond James has upgraded CDW Corp (CDW) to a Strong Buy rating from Outperform, reflecting a more optimistic outlook on the company's future. This decision, announced on November 24, 2025, comes as CDW trades at $144.40, with a market capitalization of $18.5 billion and a P/E ratio of 17.58.
CDW Corp, headquartered in Vernon Hills, Illinois, provides information technology solutions across various sectors, including business, government, education, and healthcare. The company's offerings span discrete hardware and software products to integrated IT solutions, enabling capabilities in both on-premises and cloud environments. With a workforce of 15,100 employees, CDW operates through three segments: Corporate, Small Business, and Public.
The upgrade underscores improved analyst sentiment, which may indicate enhanced fundamentals or confidence in CDW's strategic direction. Notably, the company has demonstrated strong earnings performance, with recent results exceeding analyst expectations. In Q3 2025, CDW reported an EPS of $2.71, surpassing estimates by 2.4%.
Upcoming earnings reports are anticipated on May 5, 2026, with an estimated EPS of $2.22 and revenue of $5.3 billion, and on August 4, 2026, with an estimated EPS of $2.70 and revenue of $6.0 billion.
Analyst ratings, including this recent upgrade, provide valuable insights but should be considered alongside company fundamentals and market conditions. As of November 1, 2025, the consensus rating for CDW is Buy, with 3 Strong Buy, 8 Buy, and 6 Hold ratings among 17 analysts. This evolving landscape of analyst opinions highlights the importance of comprehensive analysis in investment decision-making.