Brokerages Set CDW Co. (NASDAQ:CDW) Target Price at $241.75

Shares of CDW Co. (NASDAQ:CDW) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $241.75.

A number of research firms have commented on CDW. Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Morgan Stanley boosted their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in CDW during the 2nd quarter valued at approximately $35,000. Canoe Financial LP purchased a new stake in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Summit Securities Group LLC purchased a new position in shares of CDW during the 2nd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of CDW in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $173.28 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 5.01 and a beta of 1.02. CDW has a 12 month low of $170.68 and a 12 month high of $263.37. The firm’s 50-day moving average is $193.25 and its 200 day moving average is $212.44.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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). The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 earnings per share. Research analysts predict that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.