Brokerages Set CDW Co. (NASDAQ:CDW) PT at $244.63

Shares of CDW Co. (NASDAQ:CDW) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $244.63.

A number of equities research analysts recently weighed in on the company. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of 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 research report on Monday, October 28th. Finally, Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st.

CDW Trading Up 0.4 %

NASDAQ:CDW opened at $178.96 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The firm has a 50-day simple moving average of $209.49 and a 200-day simple moving average of $218.42. CDW has a one year low of $172.95 and a one year high of $263.37. The firm has a market cap of $23.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm earned $2.60 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that CDW will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.32%.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in CDW. Quest Partners LLC purchased a new stake in shares of CDW in the 2nd quarter valued at $35,000. ORG Partners LLC acquired a new position in CDW during the second quarter valued at $34,000. Canoe Financial LP acquired a new position in CDW during the third quarter valued at $37,000. Fortitude Family Office LLC boosted its holdings in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in CDW during the 2nd quarter worth about $40,000. Hedge funds and other 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.