CDW (NASDAQ:CDW) Now Covered by Analysts at Redburn Atlantic

Redburn Atlantic started coverage on shares of CDW (NASDAQ:CDW) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $230.00 price objective on the information technology services provider’s stock.

A number of other analysts also recently commented on the stock. Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four 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 target price of $244.63.

CDW Price Performance

Shares of NASDAQ CDW traded down $3.14 during mid-day trading on Friday, reaching $177.63. 2,703,465 shares of the company traded hands, compared to its average volume of 881,102. The firm has a market cap of $23.67 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a fifty-two week low of $175.94 and a fifty-two week high of $263.37. The stock has a fifty day simple moving average of $213.49 and a 200-day simple moving average of $220.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that CDW will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW’s dividend payout ratio is presently 30.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares in the last quarter. Foyston Gordon & Payne Inc increased its position in CDW by 20.9% during the third quarter. Foyston Gordon & Payne Inc now owns 22,367 shares of the information technology services provider’s stock worth $5,062,000 after buying an additional 3,859 shares during the last quarter. Vestcor Inc increased its position in CDW by 4.0% during the third quarter. Vestcor Inc now owns 9,329 shares of the information technology services provider’s stock worth $2,111,000 after buying an additional 362 shares during the last quarter. Barclays PLC raised its holdings in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after buying an additional 3,424 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of CDW by 54.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 3,404 shares of the information technology services provider’s stock worth $770,000 after buying an additional 1,203 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.