CDW Co. (NASDAQ:CDW) Receives $235.50 Average Target Price from Analysts

CDW Co. (NASDAQ:CDW) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings 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 price target among brokerages that have issued ratings on the stock in the last year is $235.50.

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

CDW Trading Down 1.4 %

Shares of CDW stock opened at $161.51 on Thursday. The stock has a market cap of $21.40 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW has a 1 year low of $160.96 and a 1 year high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $182.40 and a 200 day simple moving average of $191.51.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, research analysts predict that CDW will post 9.41 earnings per share for the current fiscal year.

CDW declared that its board has authorized a share buyback 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.55%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. State Street Corp boosted its stake in shares of CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP increased its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after acquiring an additional 574,444 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after acquiring an additional 524,559 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

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.