CDW Co. (NASDAQ:CDW) Given Consensus Rating of “Moderate Buy” by Brokerages

CDW Co. (NASDAQ:CDW) has been given an average rating of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $217.38.

Several research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citigroup decreased their price objective on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th.

CDW Trading Down 0.6 %

CDW stock opened at $157.95 on Monday. CDW has a 1 year low of $137.31 and a 1 year high of $248.12. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm’s 50 day moving average price is $164.15 and its 200-day moving average price is $181.40. The stock has a market cap of $20.81 billion, a P/E ratio of 19.82, a PEG ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts predict that CDW will post 9.41 earnings per share for the current fiscal year.

CDW declared that its board has authorized a stock repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.58%. CDW’s payout ratio is currently 31.37%.

Institutional Trading of CDW

A number of hedge funds have recently added to or reduced their stakes in CDW. Allworth Financial LP raised its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. Summit Trail Advisors LLC grew its holdings in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Fulcrum Equity Management increased its position in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its holdings in shares of CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares during the period. 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.