CDW (NASDAQ:CDW) PT Raised to $260.00 at Stifel Nicolaus

CDW (NASDAQ:CDW) had its target price hoisted by Stifel Nicolaus from $250.00 to $260.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

CDW has been the topic of a number of other reports. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an equal weight rating on the stock in a research note on Thursday, May 2nd. Citigroup dropped their target price on shares of CDW from $295.00 to $260.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of CDW from $280.00 to $265.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Finally, Northcoast Research raised CDW from a neutral rating to a buy rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $251.11.

CDW Stock Down 2.1 %

CDW opened at $228.84 on Wednesday. CDW has a fifty-two week low of $184.99 and a fifty-two week high of $263.37. The firm has a market capitalization of $30.76 billion, a P/E ratio of 28.57, a PEG ratio of 3.49 and a beta of 1.04. The company’s 50-day moving average is $225.62 and its 200 day moving average is $233.63. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Research analysts expect that CDW will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDW. Exchange Traded Concepts LLC boosted its stake in CDW by 119.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,258 shares of the information technology services provider’s stock valued at $286,000 after buying an additional 684 shares during the period. Diversified Trust Co grew its holdings in shares of CDW by 4.6% during the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital increased its position in shares of CDW by 9.8% in the fourth quarter. Wedmont Private Capital now owns 1,706 shares of the information technology services provider’s stock worth $372,000 after purchasing an additional 152 shares during the last quarter. Dfpg Investments LLC raised its stake in CDW by 18.8% in the fourth quarter. Dfpg Investments LLC now owns 1,653 shares of the information technology services provider’s stock valued at $359,000 after purchasing an additional 261 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in CDW by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 9,373 shares of the information technology services provider’s stock valued at $2,132,000 after purchasing an additional 239 shares during the last quarter. 93.15% of the stock is owned by 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.