UBS Group Cuts CDW (NASDAQ:CDW) Price Target to $220.00

CDW (NASDAQ:CDW) had its target price decreased by UBS Group from $233.00 to $220.00 in a report published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

A number of other brokerages have also recently issued reports on CDW. Barclays cut their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.33.

CDW Price Performance

CDW stock opened at $181.34 on Tuesday. The business has a 50-day simple moving average of $180.54 and a 200 day simple moving average of $207.16. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The stock has a market cap of $24.17 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.01 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the company posted $2.60 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast that CDW will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. CDW’s payout ratio is 30.56%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC boosted its holdings in CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CDW by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares in the last quarter. 93.15% of the stock is currently owned by 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.