CDW (NASDAQ:CDW) Now Covered by Redburn Atlantic

Redburn Atlantic assumed coverage on shares of CDW (NASDAQ:CDW) in a research report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $230.00 price objective on the information technology services provider’s stock.

Several other equities analysts have also weighed in on CDW. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays cut their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Performance

CDW opened at $178.07 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW has a 12-month low of $175.94 and a 12-month high of $263.37. The firm has a 50 day moving average of $212.76 and a two-hundred day moving average of $219.65. The firm has a market capitalization of $23.73 billion, a PE ratio of 21.77, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $2.60 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that CDW will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.32%.

Institutional Investors Weigh In On CDW

Several institutional investors have recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of CDW during the second quarter worth $34,000. Quest Partners LLC purchased a new stake in CDW during the 2nd quarter valued at about $35,000. Canoe Financial LP acquired a new stake in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC lifted its stake in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of CDW during the 2nd quarter worth approximately $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.