CDW Co. (NASDAQ:CDW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CDW Co. (NASDAQ:CDW) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $241.75.

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

CDW Price Performance

Shares of CDW stock opened at $177.79 on Tuesday. CDW has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a fifty day simple moving average of $195.27 and a 200-day simple moving average of $213.06. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that CDW will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s dividend payout ratio is currently 30.56%.

Institutional Trading of CDW

Institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new position in shares of CDW during the 3rd quarter worth approximately $1,629,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW in the 3rd quarter valued at about $12,761,000. Raymond James & Associates raised its position in CDW by 16.6% during the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after purchasing an additional 19,867 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after buying an additional 68,023 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of CDW by 50.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock valued at $543,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

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.