Analysts Set CDW Co. (NASDAQ:CDW) PT at $239.33

CDW Co. (NASDAQ:CDW) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $239.33.

A number of equities research analysts have commented on CDW shares. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley boosted their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered 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 report on Monday, October 28th. Finally, Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock.

CDW Stock Down 1.2 %

Shares of CDW stock opened at $180.92 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a 12-month low of $168.43 and a 12-month high of $263.37. The firm has a market capitalization of $24.11 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The stock’s fifty day moving average is $180.30 and its 200-day moving average is $206.40.

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 analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that CDW will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is 30.56%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CDW. Oddo BHF Asset Management Sas bought a new position in shares of CDW during the 3rd quarter worth about $1,629,000. Franklin Resources Inc. increased its stake in CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in CDW in the 3rd quarter valued at approximately $12,761,000. Thrivent Financial for Lutherans grew its holdings in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after purchasing an additional 68,023 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of CDW in the fourth quarter valued at $1,529,000. Institutional investors own 93.15% of the company’s stock.

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.