CDW (NASDAQ:CDW) Now Covered by Redburn Atlantic

Stock analysts at Redburn Atlantic began coverage on shares of CDW (NASDAQ:CDW) in a report released on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $230.00 price target on the information technology services provider’s stock. Redburn Atlantic’s price target suggests a potential upside of 27.23% from the company’s previous close.

CDW has been the subject of several other research reports. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays dropped their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Performance

NASDAQ CDW opened at $180.77 on Friday. The company has a fifty day moving average of $214.18 and a two-hundred day moving average of $220.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 1 year low of $180.35 and a 1 year high of $263.37. The company has a market capitalization of $24.09 billion, a PE ratio of 22.10, a P/E/G ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. As a group, analysts expect that CDW will post 9.05 earnings per share for the current year.

Institutional Investors Weigh In On CDW

Several institutional investors have recently made changes to their positions in CDW. RDA Financial Network raised its holdings in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares during the last quarter. PDS Planning Inc raised its position in CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after acquiring an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares in the last quarter. Profund Advisors LLC grew its position in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. Finally, OneAscent Wealth Management LLC increased its stake in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other 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.