Brokerages Set CDW Co. (NASDAQ:CDW) PT at $241.75

CDW Co. (NASDAQ:CDW) has been given an average rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $241.75.

Several research firms have recently issued reports on CDW. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Morgan Stanley boosted their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th.

Institutional Investors Weigh In On CDW

A number of institutional investors have recently added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas bought a new stake in shares of CDW in the 3rd quarter worth approximately $1,629,000. Franklin Resources Inc. raised its stake in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in CDW in the third quarter worth $973,000. Sanctuary Advisors LLC boosted its stake in CDW by 5.0% during the third quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider’s stock worth $1,260,000 after buying an additional 265 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in CDW by 18.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock valued at $572,000 after buying an additional 397 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Up 0.6 %

NASDAQ:CDW opened at $175.56 on Tuesday. The company has a market capitalization of $23.40 billion, a P/E ratio of 21.46, a P/E/G ratio of 5.01 and a beta of 1.02. The stock’s 50 day moving average price is $190.37 and its 200 day moving average price is $211.36. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW has a 52 week low of $170.68 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 EPS. On average, research analysts forecast that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.42%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

CDW Company Profile

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.