CDW Co. (NASDAQ:CDW – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $223.60.
Several brokerages recently commented on CDW. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price on the stock. in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th.
Check Out Our Latest Report on CDW
Insider Buying and Selling
Institutional Investors Weigh In On CDW
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in shares of CDW in the fourth quarter valued at about $491,000. Eventide Asset Management LLC lifted its stake in shares of CDW by 7.0% in the fourth quarter. Eventide Asset Management LLC now owns 180,520 shares of the information technology services provider’s stock valued at $41,036,000 after buying an additional 11,810 shares during the period. GLOBALT Investments LLC GA bought a new stake in shares of CDW in the fourth quarter valued at about $4,379,000. Aurora Investment Counsel lifted its stake in shares of CDW by 2.5% in the fourth quarter. Aurora Investment Counsel now owns 6,779 shares of the information technology services provider’s stock valued at $1,541,000 after buying an additional 165 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of CDW by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 424,239 shares of the information technology services provider’s stock valued at $96,439,000 after buying an additional 16,916 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.
CDW Stock Performance
CDW opened at $247.11 on Wednesday. The business’s 50 day moving average is $229.19 and its 200-day moving average is $215.70. The stock has a market cap of $33.10 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.80 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW has a twelve month low of $160.66 and a twelve month high of $248.08.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. On average, analysts predict that CDW will post 9.88 earnings per share for the current year.
CDW announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
CDW Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 26th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.00%. CDW’s dividend payout ratio is 30.62%.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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