CDW Corporation (NASDAQ:CDW) Receives $196.29 Average Price Target from Analysts

CDW Corporation (NASDAQ:CDW) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $196.2857.

Several research analysts have issued reports on the stock. Barclays lowered their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. UBS Group decreased their price objective on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Evercore ISI cut their price target on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th.

CDW Stock Performance

Shares of CDW stock opened at $142.45 on Friday. The firm’s fifty day simple moving average is $158.23 and its 200-day simple moving average is $168.82. The stock has a market capitalization of $18.55 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.97 and a beta of 1.03. CDW has a 12 month low of $137.31 and a 12 month high of $222.92. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is currently 31.57%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CDW. Price T Rowe Associates Inc. MD boosted its holdings in CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock valued at $261,564,000 after purchasing an additional 1,332,454 shares in the last quarter. Contour Asset Management LLC purchased a new position in shares of CDW during the 1st quarter worth approximately $64,505,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of CDW by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock valued at $447,596,000 after buying an additional 378,841 shares during the period. Nuveen LLC purchased a new stake in shares of CDW in the first quarter valued at approximately $55,739,000. Finally, Woodline Partners LP acquired a new position in CDW during the first quarter worth $42,332,000. 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.