CDW (NASDAQ:CDW) Price Target Cut to $220.00 by Analysts at UBS Group

CDW (NASDAQ:CDW) had its price target reduced by equities researchers at UBS Group from $233.00 to $220.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price suggests a potential upside of 22.71% from the company’s current price.

CDW has been the subject of several other research reports. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Morgan Stanley upped their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Trading Up 2.9 %

Shares of CDW stock opened at $179.29 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW has a 1 year low of $168.43 and a 1 year high of $263.37. The stock has a fifty day moving average of $181.59 and a two-hundred day moving average of $207.72. The firm has a market capitalization of $23.89 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 EPS. As a group, research analysts expect that CDW will post 8.99 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp raised its position in CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after buying an additional 64,702 shares during the period. Geode Capital Management LLC raised its position in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in CDW during the third quarter valued at $416,111,000. Janus Henderson Group PLC increased its position in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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.