CDW Co. (NASDAQ:CDW) Receives $239.33 Consensus PT from Analysts

Shares of CDW Co. (NASDAQ:CDW) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $242.67.

Several research firms have issued reports on CDW. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company.

CDW Stock Performance

NASDAQ:CDW opened at $191.74 on Wednesday. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. CDW has a 1-year low of $168.43 and a 1-year high of $263.37. The firm’s fifty day moving average price is $184.32 and its 200 day moving average price is $201.43.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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, sell-side analysts expect that CDW will post 9.35 EPS for the current year.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Institutional Trading of CDW

Several large investors have recently modified their holdings of CDW. Allworth Financial LP raised its stake in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Canoe Financial LP purchased a new position in shares of CDW during the third quarter valued at approximately $37,000. Finally, Fortitude Family Office LLC boosted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.