CDW Co. (NASDAQ:CDW) Receives $223.60 Consensus PT from Analysts

CDW Co. (NASDAQ:CDWGet Free Report) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $223.60.

Several research firms recently weighed in on CDW. Barclays increased their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price for the company. in a research note on Tuesday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th.

Get Our Latest Stock Report on CDW

CDW Trading Up 1.2 %

CDW stock opened at $248.00 on Friday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.78 and a beta of 1.09. CDW has a one year low of $160.66 and a one year high of $250.63. The company’s fifty day moving average price is $237.25 and its two-hundred day moving average price is $220.73.

CDW (NASDAQ:CDWGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business posted $2.40 earnings per share. On average, analysts forecast that CDW will post 9.88 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is currently 30.62%.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Walden Wealth Partners LLC bought a new stake in shares of CDW during the 4th quarter valued at $449,000. Wellington Management Group LLP raised its position in shares of CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after acquiring an additional 781,421 shares during the last quarter. Congress Asset Management Co. MA raised its position in shares of CDW by 36.4% during the 4th quarter. Congress Asset Management Co. MA now owns 35,985 shares of the information technology services provider’s stock valued at $8,180,000 after acquiring an additional 9,594 shares during the last quarter. Northwest Bank & Trust Co bought a new stake in shares of CDW during the 4th quarter valued at $908,000. Finally, Goldman Sachs Group Inc. raised its position in shares of CDW by 9.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 588,054 shares of the information technology services provider’s stock valued at $133,677,000 after acquiring an additional 52,771 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

About CDW

(Get Free Report

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.

Further Reading

Analyst Recommendations for CDW (NASDAQ:CDW)

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