CDW (NASDAQ:CDW) Lowered to Neutral at Citigroup

Citigroup lowered shares of CDW (NASDAQ:CDW) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has $245.00 target price on the information technology services provider’s stock, down from their prior target price of $250.00.

A number of other equities analysts also recently weighed in on CDW. Northcoast Research raised shares of CDW from a neutral rating to a buy rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Barclays lowered their price objective on CDW from $232.00 to $229.00 and set an equal weight rating for the company in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $252.75.

CDW Trading Down 3.8 %

NASDAQ CDW opened at $217.81 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The stock has a 50 day simple moving average of $221.05 and a two-hundred day simple moving average of $228.88. The stock has a market cap of $29.27 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04. CDW has a fifty-two week low of $185.04 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the company earned $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts forecast that CDW will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

Insider Transactions at CDW

In related news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares in the company, valued at $22,090,530. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On CDW

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in CDW by 29.1% during the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the period. Vanguard Group Inc. grew its stake in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after acquiring an additional 714,393 shares during the period. Lazard Asset Management LLC increased its holdings in CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares in the last quarter. First Trust Advisors LP raised its stake in CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after acquiring an additional 539,745 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in CDW during the second quarter valued at approximately $79,549,000. 93.15% of the stock is currently owned by hedge funds and other 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.