CDW Co. (NASDAQ:CDW) Receives $244.63 Consensus PT from Brokerages

Shares of CDW Co. (NASDAQ:CDW) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $244.63.

Several research firms recently issued reports on CDW. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock.

CDW Stock Up 0.4 %

CDW stock opened at $178.96 on Friday. CDW has a 12 month low of $172.95 and a 12 month high of $263.37. The stock has a fifty day simple moving average of $209.49 and a two-hundred day simple moving average of $218.42. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the business posted $2.60 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that CDW will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDW. ORG Partners LLC purchased a new stake in CDW in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new position in shares of CDW during the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC lifted its stake in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company’s stock.

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.