CDW Co. (NASDAQ:CDW – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $250.00.
Several analysts have weighed in on the stock. Citigroup lowered their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI upped their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Stifel Nicolaus lowered their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd.
Read Our Latest Research Report on CDW
CDW Stock Down 2.1 %
CDW (NASDAQ:CDW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities research analysts anticipate that CDW will post 9.67 EPS for the current fiscal year.
CDW Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.
Institutional Investors Weigh In On CDW
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Tsfg LLC bought a new stake in shares of CDW in the 1st quarter worth $26,000. VisionPoint Advisory Group LLC acquired a new stake in shares of CDW during the third quarter worth $28,000. Larson Financial Group LLC acquired a new stake in shares of CDW during the fourth quarter worth $30,000. Rise Advisors LLC purchased a new stake in shares of CDW during the first quarter valued at $34,000. Finally, Orion Capital Management LLC acquired a new position in shares of CDW in the 3rd quarter valued at $35,000. 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.
See Also
- Five stocks we like better than CDW
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- The 3 Best Blue-Chip Stocks to Buy Now
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What is the S&P 500 and How It is Distinct from Other Indexes
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.