Barclays Lowers CDW (NASDAQ:CDW) Price Target to $205.00

CDW (NASDAQ:CDW) had its price target decreased by Barclays from $223.00 to $205.00 in a research report released on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

A number of other analysts have also recently weighed in on CDW. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup cut their price target on shares of CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.38.

CDW Stock Performance

Shares of NASDAQ CDW opened at $178.94 on Thursday. CDW has a one year low of $137.31 and a one year high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business has a fifty day simple moving average of $161.13 and a 200 day simple moving average of $177.42. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. Sell-side analysts expect that CDW will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, May 23rd. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CDW. Barclays PLC grew its holdings in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. Franklin Resources Inc. grew its stake in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the period. Nordea Investment Management AB increased its holdings in CDW by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 11,260 shares of the information technology services provider’s stock valued at $1,967,000 after purchasing an additional 395 shares during the last quarter. Diversified Trust Co bought a new position in CDW during the fourth quarter worth about $1,529,000. Finally, Ridgewood Investments LLC acquired a new position in shares of CDW during the 4th quarter worth about $104,000. 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.