CDW (NASDAQ:CDW) Price Target Lowered to $232.00 at Barclays

CDW (NASDAQ:CDW) had its price objective cut by Barclays from $261.00 to $232.00 in a report issued on Thursday morning, Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. upped their price target on CDW from $267.00 to $280.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the company a buy rating in a research note on Thursday, April 4th. Finally, Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the company an outperform rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $235.50.

CDW Stock Performance

Shares of NASDAQ:CDW traded up $1.15 during trading on Thursday, hitting $219.56. The company’s stock had a trading volume of 805,670 shares, compared to its average volume of 768,724. The company has a 50-day moving average of $245.67 and a 200-day moving average of $229.16. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.11. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.47 and a beta of 1.09. CDW has a 12 month low of $162.59 and a 12 month high of $263.37.

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

CDW Announces Dividend

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

CDW declared that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new position in shares of CDW in the third quarter valued at $25,000. Tsfg LLC bought a new position in CDW during the first quarter valued at $26,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW in the 3rd quarter worth $28,000. Larson Financial Group LLC bought a new stake in shares of CDW in the 4th quarter worth about $30,000. Finally, Rise Advisors LLC purchased a new stake in shares of CDW during the 1st quarter valued at about $34,000. 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.