CDW Co. (NASDAQ:CDW) Receives $237.60 Consensus PT from Analysts

CDW Co. (NASDAQ:CDW) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $238.90.

CDW has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Barclays boosted their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Evercore ISI upped their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd.

CDW Stock Down 0.6 %

CDW stock opened at $241.38 on Thursday. The firm has a market cap of $32.43 billion, a PE ratio of 29.80, a PEG ratio of 2.75 and a beta of 1.09. 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 1 year low of $160.66 and a 1 year high of $263.37. The company has a fifty day simple moving average of $247.40 and a 200 day simple moving average of $226.65.

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s payout ratio is currently 30.62%.

CDW announced that its board has authorized a share buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of CDW

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in CDW in the third quarter valued at about $25,000. Rise Advisors LLC bought a new stake in CDW during the first quarter worth about $34,000. Larson Financial Group LLC bought a new stake in CDW during the fourth quarter worth about $30,000. VisionPoint Advisory Group LLC bought a new stake in CDW during the third quarter worth about $28,000. Finally, TFC Financial Management Inc. grew its stake in CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after buying an additional 55 shares during the last quarter. 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.