CDW (NASDAQ:CDW) Sets New 12-Month High at $256.92

Shares of CDW Co. (NASDAQ:CDW) hit a new 52-week high on Tuesday . The stock traded as high as $256.92 and last traded at $256.56, with a volume of 41096 shares. The stock had previously closed at $253.85.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays raised their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective for the company. in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.60.

CDW Trading Up 1.5 %

The stock has a 50-day simple moving average of $241.40 and a two-hundred day simple moving average of $222.42. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm has a market cap of $34.61 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 0.96%. CDW’s payout ratio is 30.62%.

CDW announced that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On CDW

A number of large investors have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of CDW by 130.7% during the 4th quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after acquiring an additional 1,383,869 shares during the period. Wellington Management Group LLP increased its position in CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares in the last quarter. First Trust Advisors LP raised its stake in shares of CDW by 627.3% in the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after buying an additional 539,745 shares during the period. Norges Bank purchased a new position in shares of CDW during the 4th quarter valued at about $111,736,000. Finally, Mondrian Investment Partners LTD purchased a new position in shares of CDW during the 2nd quarter valued at about $75,222,000. 93.15% of the stock is currently owned by institutional investors.

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.