CDW Corporation (NASDAQ:CDW) Receives $171.00 Average PT from Analysts

CDW Corporation (NASDAQ:CDW) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $171.00.

CDW has been the subject of several recent analyst reports. UBS Group lowered their price target on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of CDW in a research report on Tuesday. Citigroup lowered their target price on shares of CDW from $160.00 to $148.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley lowered shares of CDW from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $177.00 to $141.00 in a research note on Tuesday. Finally, Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a report on Tuesday, November 25th.

CDW Price Performance

NASDAQ CDW opened at $126.00 on Wednesday. The firm’s fifty day simple moving average is $138.71 and its two-hundred day simple moving average is $154.68. The firm has a market capitalization of $16.40 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.70 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. CDW has a 12-month low of $124.00 and a 12-month high of $222.92.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. Analysts forecast that CDW will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were paid a $0.63 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date was Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. CDW’s dividend payout ratio (DPR) is 31.82%.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the sale, the insider owned 28,110 shares in the company, valued at approximately $4,108,838.70. The trade was a 20.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDW. Root Financial Partners LLC purchased a new stake in CDW in the third quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in CDW during the 3rd quarter valued at approximately $57,000. eCIO Inc. purchased a new stake in shares of CDW in the 4th quarter valued at $61,000. Covestor Ltd increased its stake in shares of CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after acquiring an additional 226 shares during the period. Finally, American National Bank & Trust acquired a new stake in shares of CDW in the fourth quarter worth $110,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.