CDW Co. (NASDAQ:CDW) Receives Average Rating of “Moderate Buy” from Brokerages

CDW Co. (NASDAQ:CDW) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $244.63.

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

Institutional Investors Weigh In On CDW

Hedge funds have recently bought and sold shares of the business. RDA Financial Network lifted its holdings in shares of CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares during the last quarter. PDS Planning Inc increased its position in CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in CDW by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after buying an additional 54 shares during the last quarter. Profund Advisors LLC boosted its holdings in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after acquiring an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its stake in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

NASDAQ CDW opened at $176.75 on Friday. The stock has a 50-day moving average of $206.88 and a 200-day moving average of $217.52. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a market cap of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05.

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

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.