CDW Co. (NASDAQ:CDW) Receives $235.50 Consensus Price Target from Brokerages

Shares of CDW Co. (NASDAQ:CDW) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $235.50.

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

CDW Price Performance

Shares of CDW stock opened at $164.47 on Thursday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW has a 52-week low of $158.76 and a 52-week high of $263.37. The company has a fifty day moving average of $180.64 and a 200-day moving average of $190.34. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. Equities research analysts expect that CDW will post 9.41 EPS for the current year.

CDW declared that its board has initiated a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Institutional Trading of CDW

Several large investors have recently bought and sold shares of CDW. Orion Capital Management LLC purchased a new position in shares of CDW in the 4th quarter valued at approximately $30,000. Allworth Financial LP raised its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust boosted its holdings in shares of CDW by 38.9% during the 4th 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 in the last quarter. Finally, Optiver Holding B.V. grew its position in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after buying an additional 119 shares during the period. 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.