CDW Corporation (NASDAQ:CDW) Receives Consensus Rating of “Moderate Buy” from Analysts

CDW Corporation (NASDAQ:CDW) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $160.4286.

A number of equities research analysts recently commented on CDW shares. Citigroup lifted their price objective on CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price objective on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Evercore reaffirmed an “outperform” rating and set a $180.00 price objective on shares of CDW in a research note on Tuesday, January 20th. UBS Group dropped their price objective on CDW from $190.00 to $162.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, February 5th.

Hedge Funds Weigh In On CDW

Several hedge funds have recently modified their holdings of CDW. Jones Financial Companies Lllp grew its holdings in shares of CDW by 316.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock valued at $785,000 after acquiring an additional 3,719 shares in the last quarter. Empowered Funds LLC lifted its stake in CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in CDW by 22.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the information technology services provider’s stock valued at $368,000 after purchasing an additional 376 shares during the last quarter. Marshall Wace LLP lifted its stake in CDW by 245.7% in the 2nd quarter. Marshall Wace LLP now owns 168,452 shares of the information technology services provider’s stock valued at $30,084,000 after purchasing an additional 119,719 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in CDW by 15.5% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock valued at $255,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $125.53 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.77. CDW has a 12 month low of $112.98 and a 12 month high of $192.30. The business has a fifty day simple moving average of $124.57 and a 200 day simple moving average of $137.01. The stock has a market cap of $16.06 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.13. CDW had a return on equity of 50.66% and a net margin of 4.76%.The business had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that CDW will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, February 25th. CDW’s dividend payout ratio is 31.15%.

About CDW

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.