CDW Co. (NASDAQ:CDW) Given Average Rating of “Moderate Buy” by Analysts

Shares of CDW Co. (NASDAQ:CDW) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $239.33.

CDW has been the topic of several research reports. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th.

Institutional Trading of CDW

Several institutional investors and hedge funds have recently made changes to their positions in the business. Canoe Financial LP bought a new position in shares of CDW in the third quarter worth about $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the period. Allworth Financial LP raised its stake in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter valued at approximately $43,000. Finally, Covestor Ltd boosted its holdings in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

CDW opened at $199.34 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a market capitalization of $26.56 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 5.39 and a beta of 1.01. The company has a fifty day moving average of $182.49 and a 200 day moving average of $202.62. CDW has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.25%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

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.