CDW (NASDAQ:CDW) PT Lowered to $232.00 at Barclays

CDW (NASDAQ:CDW) had its price target lowered by equities research analysts at Barclays from $261.00 to $232.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s price target indicates a potential upside of 8.06% from the stock’s previous close.

CDW has been the subject of several other reports. Evercore ISI raised their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.44.

CDW Stock Up 0.0 %

Shares of NASDAQ CDW traded up $0.08 during trading hours on Thursday, hitting $214.69. The company had a trading volume of 325,735 shares, compared to its average volume of 709,689. CDW has a 1-year low of $162.59 and a 1-year high of $263.37. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The firm’s 50 day moving average is $246.81 and its 200-day moving average is $229.16. The stock has a market capitalization of $28.85 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $2.40 EPS. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts expect that CDW will post 9.89 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On CDW

Several institutional investors have recently modified their holdings of CDW. Tsfg LLC purchased a new stake in shares of CDW during the 1st quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in shares of CDW during the 3rd quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of CDW during the 1st quarter worth $34,000. Larson Financial Group LLC purchased a new stake in CDW in the 4th quarter worth about $30,000. Finally, VisionPoint Advisory Group LLC bought a new stake in CDW in the 3rd quarter valued at about $28,000. 93.15% of the stock is owned by institutional investors.

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.