CDW (NASDAQ:CDW) Given New $160.00 Price Target at Citigroup

CDW (NASDAQ:CDW) had its price objective trimmed by Citigroup from $220.00 to $160.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently weighed in on CDW. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.88.

CDW Price Performance

CDW stock opened at $151.74 on Monday. The business has a 50 day moving average price of $171.12 and a 200 day moving average price of $185.15. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 3.21 and a beta of 0.97. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $248.12.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC purchased a new position in CDW in the 4th quarter valued at $30,000. Allworth Financial LP lifted its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new stake in shares of CDW in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Optiver Holding B.V. raised its holdings in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 119 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.