CDW (NASDAQ:CDW) Downgraded by Citigroup

Citigroup cut shares of CDW (NASDAQ:CDW) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat reports. The brokerage currently has $245.00 target price on the information technology services provider’s stock, down from their previous target price of $250.00.

Other research analysts also recently issued research reports about the stock. Northcoast Research raised shares of CDW from a neutral rating to a buy rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Barclays dropped their price target on CDW from $232.00 to $229.00 and set an equal weight rating for the company in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $252.75.

CDW Stock Down 3.8 %

Shares of CDW opened at $217.81 on Tuesday. CDW has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $29.27 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04. The business’s 50 day moving average is $221.05 and its 200 day moving average is $228.88.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm posted $2.43 EPS. CDW’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts expect that CDW will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Insider Activity

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CDW news, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of CDW

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the period. Mawer Investment Management Ltd. grew its stake in CDW by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after purchasing an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after purchasing an additional 51,450 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares in the last quarter. Hedge funds and other 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.