CDW’s (CDW) Hold (C-) Rating Reaffirmed at Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of CDW (NASDAQ:CDW) in a research note issued to investors on Thursday morning,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. Citigroup boosted their price target on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Barclays dropped their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Evercore ISI dropped their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their price target on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, UBS Group dropped their price target on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $201.71.

CDW Stock Down 0.3%

CDW opened at $156.80 on Thursday. The business’s 50-day simple moving average is $160.37 and its 200-day simple moving average is $168.72. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. CDW has a one year low of $137.31 and a one year high of $222.92. The stock has a market capitalization of $20.55 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.6%. CDW’s dividend payout ratio is presently 31.06%.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock valued at $33,255,000 after acquiring an additional 35,737 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CDW by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider’s stock valued at $963,000 after acquiring an additional 94 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in CDW in the 1st quarter valued at $212,000. IFM Investors Pty Ltd raised its holdings in CDW by 9.8% in the 1st quarter. IFM Investors Pty Ltd now owns 28,527 shares of the information technology services provider’s stock valued at $4,572,000 after acquiring an additional 2,549 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in CDW by 365.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,632 shares of the information technology services provider’s stock valued at $10,838,000 after acquiring an additional 53,098 shares during the last quarter. Hedge funds and other institutional investors 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.