CDW Co. (NASDAQ:CDW) Given Average Recommendation of “Moderate Buy” by Brokerages

CDW Co. (NASDAQ:CDW) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $241.75.

A number of equities analysts have commented on CDW shares. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic began 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 lowered 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. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Morgan Stanley upped their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th.

CDW Price Performance

CDW opened at $174.53 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The business has a fifty day moving average of $191.33 and a 200 day moving average of $211.76. CDW has a 52-week low of $170.68 and a 52-week high of $263.37. The stock has a market cap of $23.26 billion, a P/E ratio of 21.34, a PEG ratio of 5.01 and a beta of 1.02.

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

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Investors Weigh In On CDW

A number of hedge funds and other institutional investors have recently bought and sold shares of CDW. PDS Planning Inc increased its position in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in CDW by 0.5% in 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. OneAscent Wealth Management LLC boosted its holdings in 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 in the last quarter. Finally, Fulcrum Equity Management grew its stake in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other 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.