CDW (NASDAQ:CDW) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of CDW (NASDAQ:CDW) from an overweight rating to a neutral rating in a research report report published on Monday, MarketBeat reports. They currently have $235.00 price target on the information technology services provider’s stock, down from their previous price target of $260.00.

A number of other research firms have also weighed in on CDW. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. 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 report on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $250.71.

CDW Stock Down 11.3 %

Shares of NASDAQ CDW opened at $195.06 on Monday. The stock has a market capitalization of $26.22 billion, a P/E ratio of 24.35, a PEG ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. CDW has a one year low of $185.04 and a one year high of $263.37. The firm’s 50 day simple moving average is $221.46 and its two-hundred day simple moving average is $224.17.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business earned $2.43 EPS. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts expect that CDW will post 9.4 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. CDW’s payout ratio is 30.96%.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in CDW. RDA Financial Network lifted its position in shares of CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of CDW by 1.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after acquiring an additional 47 shares during the period. PDS Planning Inc raised its position in shares of CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after acquiring an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the period. Finally, Smithfield Trust Co boosted its position in shares of CDW by 4.1% during the first quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock valued at $367,000 after purchasing an additional 57 shares in the last quarter. 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.