Analysts Set CDW Co. (NASDAQ:CDW) Target Price at $247.50

CDW Co. (NASDAQ:CDW) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $247.50.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays decreased their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd.

Institutional Trading of CDW

Hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC raised its holdings in CDW by 2.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in CDW by 5.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after acquiring an additional 43 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after acquiring an additional 47 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in CDW by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after acquiring an additional 49 shares in the last quarter. Finally, Scotia Capital Inc. increased its position in shares of CDW by 1.5% during the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 0.2 %

CDW stock opened at $220.32 on Monday. The company has a market cap of $29.61 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 3.16 and a beta of 1.09. The firm has a 50-day moving average of $244.22 and a two-hundred day moving average of $229.68. CDW has a 12 month low of $164.62 and a 12 month high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $2.40 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that CDW will post 9.89 earnings per share for the current fiscal year.

CDW declared that its board has initiated a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. CDW’s dividend payout ratio (DPR) is 30.96%.

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.