Analysts Set CDW Co. (NASDAQ:CDW) Price Target at $208.71

CDW Co. (NASDAQ:CDW) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $208.71.

CDW has been the subject of several recent research reports. Barclays lowered their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider now owns 36,077 shares of the company’s stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On CDW

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC lifted its position in shares of CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares in the last quarter. Finally, Vestcor Inc lifted its position in shares of CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider’s stock valued at $652,000 after buying an additional 71 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $170.42 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $22.44 billion, a P/E ratio of 21.38, a P/E/G ratio of 3.21 and a beta of 0.95. The business has a fifty day simple moving average of $170.10 and a two-hundred day simple moving average of $175.71. CDW has a 12 month low of $137.31 and a 12 month high of $241.26.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 earnings per share. On average, equities analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s dividend payout ratio is currently 30.98%.

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.