Citigroup Lowers CDW (NASDAQ:CDW) Price Target to $148.00

CDW (NASDAQ:CDW) had its target price reduced by analysts at Citigroup from $160.00 to $148.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price objective points to a potential upside of 17.64% from the company’s current price.

Several other equities analysts also recently commented on CDW. Barclays cut their price target on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of CDW in a report on Tuesday. UBS Group lowered their target price on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $177.00 to $141.00 in a report on Tuesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $171.00.

CDW Price Performance

Shares of CDW stock traded down $5.94 during trading hours on Tuesday, hitting $125.81. The stock had a trading volume of 847,002 shares, compared to its average volume of 1,382,280. CDW has a one year low of $125.79 and a one year high of $222.92. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.72 and a beta of 1.08. The stock’s 50-day moving average price is $140.20 and its two-hundred day moving average price is $155.81. 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 (NASDAQ:CDW) last announced its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.09. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. Equities analysts forecast that CDW will post 9.41 EPS for the current year.

Insider Buying and Selling at CDW

In other news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider owned 28,110 shares of the company’s stock, valued at $4,108,838.70. The trade was a 20.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDW. Root Financial Partners LLC purchased a new stake in CDW in the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new position in shares of CDW in the third quarter worth about $57,000. Covestor Ltd boosted its stake in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after acquiring an additional 226 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of CDW during the 4th quarter valued at about $110,000. Finally, Steph & Co. increased its stake in shares of CDW by 917.6% in the 2nd quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after purchasing an additional 624 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Company Profile

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.