CDW (NASDAQ:CDW) Price Target Cut to $229.00 by Analysts at Barclays

CDW (NASDAQ:CDW) had its target price decreased by Barclays from $232.00 to $229.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

CDW has been the topic of a number of other reports. Northcoast Research upgraded shares of CDW from a neutral rating to a buy rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Stifel Nicolaus lifted their target price on shares of CDW from $250.00 to $260.00 and gave the company a buy rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on shares of CDW from $280.00 to $265.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Finally, Citigroup dropped their target price on shares of CDW from $295.00 to $260.00 and set a buy rating for the company in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of Moderate Buy and an average price target of $254.63.

CDW Trading Down 1.5 %

NASDAQ:CDW traded down $3.18 during trading hours on Thursday, reaching $206.67. The company’s stock had a trading volume of 1,345,232 shares, compared to its average volume of 815,211. The firm has a 50-day simple moving average of $225.29 and a 200-day simple moving average of $234.34. CDW has a 1 year low of $185.04 and a 1 year high of $263.37. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.17 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.13 and a current ratio of 1.13.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $2.43 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts expect that CDW will post 9.6 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value 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 disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently made changes to their positions in the company. Aaron Wealth Advisors LLC increased its holdings in shares of CDW by 2.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 42 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after buying an additional 43 shares during the period. RDA Financial Network lifted its holdings in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of CDW by 6.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after purchasing an additional 49 shares during the last quarter. 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.