CDW (NASDAQ:CDW) Price Target Lowered to $220.00 at UBS Group

CDW (NASDAQ:CDW) had its price target lowered by UBS Group from $233.00 to $220.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

Other research analysts also recently issued research reports about the stock. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Morgan Stanley upped their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Price Performance

Shares of NASDAQ CDW opened at $180.98 on Tuesday. The company has a 50 day simple moving average of $180.81 and a two-hundred day simple moving average of $207.34. CDW has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. Analysts expect that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Diversified Trust Co purchased a new position in shares of CDW during the 4th quarter worth $1,529,000. Fortem Financial Group LLC raised its holdings in CDW by 5.8% in the 4th quarter. Fortem Financial Group LLC now owns 4,960 shares of the information technology services provider’s stock worth $863,000 after purchasing an additional 270 shares during the period. Insight Wealth Strategies LLC lifted its position in CDW by 13.0% during the fourth quarter. Insight Wealth Strategies LLC now owns 19,772 shares of the information technology services provider’s stock valued at $3,441,000 after purchasing an additional 2,275 shares in the last quarter. Pensionfund Sabic grew its holdings in CDW by 28.7% during the fourth quarter. Pensionfund Sabic now owns 6,725 shares of the information technology services provider’s stock valued at $1,170,000 after purchasing an additional 1,500 shares during the period. Finally, Nordea Investment Management AB increased its position in CDW by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 11,260 shares of the information technology services provider’s stock worth $1,967,000 after buying an additional 395 shares in the last quarter. 93.15% of the stock is 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.