CDW (NASDAQ:CDW) Upgraded to Overweight at JPMorgan Chase & Co.

CDW (NASDAQ:CDW) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Wednesday. The firm presently has a $130.00 price target on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.72% from the stock’s current price.

A number of other analysts have also recently commented on CDW. UBS Group dropped their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Citigroup lowered their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Morgan Stanley increased their target price on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Raymond James Financial set a $150.00 price target on CDW in a report on Wednesday, May 6th. Finally, Barclays reduced their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.63.

CDW Trading Down 2.0%

Shares of CDW opened at $108.59 on Wednesday. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $186.70. The business has a 50-day moving average of $120.72 and a 200 day moving average of $129.66. The firm has a market cap of $13.87 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.28. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. As a group, research analysts forecast that CDW will post 10 EPS for the current year.

Institutional Trading of CDW

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC boosted its holdings in CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. New Mexico Educational Retirement Board raised its position in shares of CDW by 1.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after buying an additional 100 shares in the last quarter. Hollencrest Capital Management boosted its stake in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares during the period. Empowered Funds LLC boosted its stake in CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after buying an additional 216 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in CDW by 38.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after buying an additional 254 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

About CDW

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.