CDW (NASDAQ:CDW) PT Lowered to $265.00 at JPMorgan Chase & Co.

CDW (NASDAQ:CDW) had its price objective cut by JPMorgan Chase & Co. from $280.00 to $265.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other research analysts also recently issued reports on the company. Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Barclays cut their price objective on CDW from $261.00 to $232.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Citigroup lifted their price objective on CDW from $255.00 to $295.00 and gave the stock a buy rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $247.50.

CDW Price Performance

Shares of NASDAQ:CDW opened at $219.56 on Thursday. The business’s 50 day simple moving average is $245.67 and its 200-day simple moving average is $229.47. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.11. CDW has a 12 month low of $162.59 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.40 EPS. As a group, equities analysts forecast that CDW will post 9.89 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in shares of CDW during the 3rd quarter worth $25,000. Tsfg LLC acquired a new stake in shares of CDW during the 1st quarter worth $26,000. VisionPoint Advisory Group LLC acquired a new stake in shares of CDW during the 3rd quarter worth $28,000. Larson Financial Group LLC acquired a new stake in shares of CDW during the 4th quarter worth $30,000. Finally, Rise Advisors LLC acquired a new stake in shares of CDW during the 1st quarter worth $34,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.