CDW Co. (NASDAQ:CDW) Receives Average Rating of “Moderate Buy” from Brokerages

CDW Co. (NASDAQ:CDW) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $239.33.

CDW has been the topic of several analyst reports. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th.

Hedge Funds Weigh In On CDW

Several hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in CDW during the fourth quarter valued at approximately $69,000. Ridgewood Investments LLC purchased a new position in CDW in the 4th quarter worth approximately $104,000. Diversified Trust Co purchased a new position in CDW in the 4th quarter worth approximately $1,529,000. Fortem Financial Group LLC grew its stake in CDW by 5.8% in the 4th quarter. Fortem Financial Group LLC now owns 4,960 shares of the information technology services provider’s stock worth $863,000 after buying an additional 270 shares in the last quarter. Finally, Insight Wealth Strategies LLC grew its stake in CDW by 13.0% in the 4th quarter. Insight Wealth Strategies LLC now owns 19,772 shares of the information technology services provider’s stock worth $3,441,000 after buying an additional 2,275 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.0 %

CDW stock opened at $183.14 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 5.01 and a beta of 1.01. The business’s fifty day moving average price is $180.40 and its two-hundred day moving average price is $206.98. CDW has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

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

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a $0.625 dividend. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.