CDW Co. (NASDAQ:CDW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CDW Co. (NASDAQ:CDW) have received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $238.90.

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Barclays lifted their price target on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price target on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th.

CDW Stock Down 1.3 %

Shares of CDW stock opened at $236.78 on Thursday. The stock’s 50 day simple moving average is $247.57 and its 200 day simple moving average is $226.99. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW has a twelve month low of $160.66 and a twelve month high of $263.37. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is presently 30.62%.

CDW announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of CDW

Several institutional investors have recently bought and sold shares of CDW. OFI Invest Asset Management acquired a new stake in CDW in the 3rd quarter valued at $25,000. Tsfg LLC acquired a new stake in CDW in the 1st quarter valued at $26,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the 3rd quarter valued at $28,000. TFC Financial Management Inc. boosted its stake in CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in CDW in the fourth quarter worth $30,000. Institutional investors and hedge funds 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.