UBS Group Has Lowered Expectations for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its target price decreased by UBS Group from $233.00 to $220.00 in a report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

Other equities analysts also recently issued research reports about the stock. 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 initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley increased their price target on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Trading Up 0.9 %

Shares of CDW stock opened at $180.98 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a fifty day simple moving average of $180.81 and a two-hundred day simple moving average of $207.34. The firm has a market capitalization of $24.12 billion, a PE ratio of 22.12, a PEG ratio of 5.01 and a beta of 1.01. CDW has a 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last released 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 quarter in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. CDW’s dividend payout ratio is 30.56%.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas bought a new position in CDW during the third quarter valued at $1,629,000. Franklin Resources Inc. grew its holdings in CDW by 3.4% during the 3rd 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 during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW in the 3rd quarter worth about $12,761,000. Thrivent Financial for Lutherans lifted its stake in CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after purchasing an additional 68,023 shares during the last quarter. Finally, Fortem Financial Group LLC purchased a new position in shares of CDW during the third quarter valued at approximately $1,061,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.