CDW Co. (NASDAQ:CDW) Receives $255.00 Average PT from Analysts

Shares of CDW Co. (NASDAQ:CDW) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $250.71.

A number of equities research analysts have weighed in on CDW shares. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a report on Monday. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays cut their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th.

CDW Stock Performance

NASDAQ:CDW opened at $195.06 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The firm’s fifty day moving average price is $221.46 and its 200 day moving average price is $224.17. CDW has a 1-year low of $185.04 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its 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). The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 EPS. On average, sell-side analysts expect that CDW will post 9.4 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be 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 1.28%. CDW’s dividend payout ratio is 30.96%.

Hedge Funds Weigh In On CDW

Several hedge funds have recently added to or reduced their stakes in CDW. Vanguard Group Inc. raised its holdings in shares of CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new stake in CDW during the 3rd quarter worth about $158,300,000. Lazard Asset Management LLC raised its stake 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 valued at $225,491,000 after purchasing an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of CDW during the 2nd quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of CDW by 2,045.4% during the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares in the last quarter. 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.