Stifel Nicolaus Trims CDW (NASDAQ:CDW) Target Price to $250.00

CDW (NASDAQ:CDW) had its target price reduced by Stifel Nicolaus from $265.00 to $250.00 in a research note released on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the information technology services provider’s stock.

CDW has been the subject of a number of other reports. Citigroup boosted their target price on shares of CDW from $255.00 to $295.00 and gave the stock a buy rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an overweight rating on the stock in a report on Thursday. Barclays decreased their price target on CDW from $261.00 to $232.00 and set an equal weight rating on the stock in a report on Thursday. Finally, Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $247.50.

CDW Price Performance

CDW stock traded up $1.15 during trading hours on Thursday, hitting $219.56. 805,670 shares of the stock were exchanged, compared to its average volume of 768,724. CDW has a 12 month low of $162.59 and a 12 month high of $263.37. The business’s 50-day moving average is $245.67 and its two-hundred day moving average is $229.30. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.11 and a current ratio of 1.26. The stock has a market capitalization of $29.51 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.49 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. CDW’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 EPS. Equities research analysts expect that CDW will post 9.89 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s payout ratio is presently 30.96%.

CDW announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On CDW

Several institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after buying an additional 6,799 shares in the last quarter. Cerity Partners LLC boosted its stake in CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,511 shares during the period. Pacer Advisors Inc. increased its holdings in CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares in the last quarter. JGP Wealth Management LLC acquired a new stake in shares of CDW in the 4th quarter valued at about $1,559,000. Finally, California Public Employees Retirement System raised its stake in shares of CDW by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock valued at $165,244,000 after purchasing an additional 7,854 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Company Profile

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.