CDW Co. (NASDAQ:CDW) Given Average Rating of “Moderate Buy” by Analysts

CDW Co. (NASDAQ:CDW – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $205.63.

Several analysts recently issued reports on the company. Raymond James increased their price objective on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Credit Suisse Group cut their target price on CDW from $195.00 to $190.00 in a report on Thursday, May 4th. JPMorgan Chase & Co. cut their target price on CDW from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Bank of America lowered their price target on CDW from $200.00 to $185.00 in a research report on Thursday, May 4th. Finally, Stifel Nicolaus decreased their target price on CDW from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy bought 3,050 shares of the stock in a transaction on Thursday, May 4th. The stock was purchased at an average price of $163.62 per share, with a total value of $499,041.00. Following the acquisition, the insider now owns 68,622 shares of the company’s stock, valued at $11,227,931.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CDW

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of CDW by 76.3% in the 4th quarter. Allworth Financial LP now owns 141 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 61 shares during the period. RFP Financial Group LLC acquired a new stake in shares of CDW during the 4th quarter worth approximately $25,000. Dark Forest Capital Management LP lifted its stake in CDW by 86.9% in the 4th quarter. Dark Forest Capital Management LP now owns 157 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. Eagle Bay Advisors LLC raised its stake in shares of CDW by 1,333.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 172 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 160 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of CDW during the fourth quarter valued at $33,000. 92.78% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

CDW opened at $172.59 on Monday. The business has a fifty day simple moving average of $179.70 and a 200-day simple moving average of $187.16. The firm has a market cap of $23.26 billion, a PE ratio of 21.63, a P/E/G ratio of 1.46 and a beta of 1.11. CDW has a fifty-two week low of $147.91 and a fifty-two week high of $215.00. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 3.66.

CDW declared that its board has authorized a stock repurchase program on Wednesday, February 8th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, May 24th. CDW’s dividend payout ratio (DPR) is currently 29.57%.

About CDW

(Get Rating)

CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.