CDW (NASDAQ:CDW) Price Target Lowered to $265.00 at JPMorgan Chase & Co.

CDW (NASDAQ:CDW) had its target price lowered by JPMorgan Chase & Co. from $280.00 to $265.00 in a report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

CDW has been the subject of several other reports. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the company a buy rating in a report on Thursday, April 4th. Finally, Barclays cut their target price on CDW from $261.00 to $232.00 and set an equal weight rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, CDW presently has an average rating of Moderate Buy and an average target price of $235.50.

CDW Trading Up 0.5 %

NASDAQ CDW traded up $1.15 during trading hours on Thursday, hitting $219.56. 805,670 shares of the company’s stock were exchanged, compared to its average volume of 768,724. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.47 and a beta of 1.09. CDW has a 1-year low of $162.59 and a 1-year high of $263.37. The stock has a 50-day simple moving average of $245.67 and a 200 day simple moving average of $229.16. The company has a current ratio of 1.26, a quick ratio of 1.11 and a debt-to-equity ratio of 2.35.

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. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. CDW’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 business posted $2.40 EPS. On average, equities analysts forecast that CDW will post 9.89 EPS for the current fiscal year.

CDW Dividend Announcement

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

CDW announced that its Board of Directors has initiated a share 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of CDW

A number of institutional investors and hedge funds have recently modified their holdings of CDW. OFI Invest Asset Management bought a new stake in shares of CDW during the 3rd quarter worth $25,000. Tsfg LLC bought a new position in shares of CDW during the 1st quarter valued at approximately $26,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC purchased a new position in CDW in the fourth quarter valued at approximately $30,000. Finally, Rise Advisors LLC bought a new position in CDW during the first quarter valued at $34,000. 93.15% of the stock is owned by hedge funds and other 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.