CDW Co. (NASDAQ:CDW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CDW Co. (NASDAQ:CDW) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $239.33.

A number of research firms have weighed in on CDW. UBS Group dropped 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. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Morgan Stanley boosted their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th.

Institutional Trading of CDW

A number of large investors have recently made changes to their positions in CDW. Commonwealth Equity Services LLC boosted its holdings in shares of CDW by 4.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock worth $1,817,000 after purchasing an additional 377 shares during the period. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at $35,000. Daiwa Securities Group Inc. lifted its holdings in shares of CDW by 10.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,379 shares of the information technology services provider’s stock worth $5,009,000 after acquiring an additional 2,056 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of CDW by 6.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,074 shares of the information technology services provider’s stock worth $240,000 after purchasing an additional 66 shares during the period. Finally, AGF Management Ltd. grew its holdings in CDW by 9.8% during the 2nd quarter. AGF Management Ltd. now owns 10,190 shares of the information technology services provider’s stock valued at $2,281,000 after purchasing an additional 912 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 0.5 %

CDW opened at $187.46 on Friday. CDW has a 1-year low of $168.43 and a 1-year high of $263.37. The firm’s 50 day simple moving average is $179.66 and its two-hundred day simple moving average is $205.70. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $24.98 billion, a PE ratio of 22.92, a PEG ratio of 5.01 and a beta of 1.01.

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

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio is currently 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.