CDW Co. (NASDAQ:CDW) Given Consensus Rating of “Moderate Buy” by Analysts

CDW Co. (NASDAQ:CDW) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $239.33.

A number of equities analysts have recently commented on CDW shares. Morgan Stanley raised their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st.

CDW Trading Up 0.5 %

NASDAQ:CDW opened at $188.70 on Friday. CDW has a 1 year low of $168.43 and a 1 year high of $263.37. The stock’s fifty day moving average price is $179.13 and its two-hundred day moving average price is $205.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $25.15 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.60 EPS. As a group, analysts expect that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.32%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

Hedge Funds Weigh In On CDW

A number of large investors have recently modified their holdings of CDW. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the third quarter worth approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW in the 3rd quarter valued at $172,217,000. Perpetual Ltd bought a new position in shares of CDW during the 3rd quarter valued at $158,300,000. Finally, Canada Pension Plan Investment Board raised its position in CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after purchasing an additional 280,584 shares during the period. 93.15% of the stock is 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.