CDW (NASDAQ:CDW) Price Target Cut to $250.00 by Analysts at Stifel Nicolaus

CDW (NASDAQ:CDW) had its price objective trimmed by Stifel Nicolaus from $265.00 to $250.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

CDW has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an overweight rating for the company in a research report on Thursday. Barclays dropped their target price on shares of CDW from $261.00 to $232.00 and set an equal weight rating for the company in a report on Thursday. Citigroup upped their price target on shares of CDW from $255.00 to $295.00 and gave the company a buy rating in a report on Thursday, April 4th. Finally, Evercore ISI raised their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $235.50.

CDW Price Performance

CDW stock traded up $1.15 during trading on Thursday, reaching $219.56. 805,670 shares of the company were exchanged, compared to its average volume of 768,724. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.11 and a current ratio of 1.26. The stock’s 50 day moving average price is $245.67 and its 200 day moving average price is $229.16. CDW has a 52-week low of $162.59 and a 52-week high of $263.37. The company has a market cap of $29.51 billion, a P/E ratio of 27.41, a PEG ratio of 2.47 and a beta of 1.09.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the company earned $2.40 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, analysts predict that CDW will post 9.89 earnings per share for the current fiscal year.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Institutional Investors Weigh In On CDW

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings 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 valued at $787,638,000 after buying an additional 781,421 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of CDW by 4.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after acquiring an additional 64,140 shares in the last quarter. Northern Trust Corp boosted its position in CDW by 1.6% during the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after purchasing an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in CDW by 3.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after purchasing an additional 41,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock valued at $258,196,000 after purchasing an additional 33,235 shares in the last quarter. 93.15% of the stock is currently 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.