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

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

Other equities analysts have also issued reports about the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Barclays dropped their price objective on 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 CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Performance

CDW stock opened at $179.29 on Tuesday. The stock’s 50 day moving average price is $181.59 and its 200 day moving average price is $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. 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 one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company 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 business’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $2.60 earnings per share. As a group, sell-side analysts expect that CDW will post 8.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new position in CDW during the 3rd quarter worth $1,629,000. Franklin Resources Inc. grew its stake in CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW during the 3rd quarter worth $12,761,000. Thrivent Financial for Lutherans grew its stake in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after buying an additional 68,023 shares during the last quarter. Finally, Fortem Financial Group LLC bought a new position in CDW during the 3rd quarter worth $1,061,000. 93.15% of the stock is currently owned by institutional investors.

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.