Why Is CDW CORP (CDW) Stock Up Today?

CDW shares surged 14.98% to close at $172.20, marking a significant breakout from recent trading levels. The primary driver was a strong third-quarter earnings report, where the company reported record sales and raised its full-year outlook, driven by robust demand for AI infrastructure.

What Happened

CDW reported third-quarter revenue of $6.75 billion, exceeding estimates of $6.22 billion and growing 17.7% year over year. Adjusted earnings per share came in at $3.26, surpassing the consensus estimate of $2.98 and rising 20.4% year over year. Management attributed the performance to strong demand for AI infrastructure, which contributed to record sales and backlog growth. The company raised its gross profit outlook to mid- to high single digits and signaled low double-digit non-GAAP EPS growth for 2026.

Following the results, Evercore ISI raised its price target on CDW to $185 from $160. Raymond James also adjusted its price target on the stock. The company declared a quarterly cash dividend, contributing to the positive sentiment. While margins slipped slightly on large infrastructure deals, the overall beat and raised guidance were well received by the market.

What The Data Shows

The stock opened at $155.00, a 3.5% gap up from the prior close of $149.77. It traded between a session low of $154.01 and a session high of $172.47, closing near the high at $172.32. Volume stood at 1.6 million shares, which is 0.9 times the three-month daily average. The stock printed 32 fresh 52-week highs on November 4, 2026. The 52-week range is $97.12 to $166.15, meaning the current price is well above the previous high. The company has a market cap of $18.8 billion, a P/E ratio of 18.0, and a dividend yield of 1.67%.

Recent insider activity shows one sale of $3.7 million by Elizabeth H. Connelly in August. Congressional trades in the last 90 days include three buys and two sells, with the most recent filing on October 8, 2026.

What To Watch

Investors will monitor the company's ability to sustain its raised gross profit outlook and non-GAAP EPS growth targets for the remainder of 2026. The stock's position at a new 52-week high suggests continued momentum, but attention will likely turn to how the company manages margins on large infrastructure deals going forward.