CDW (NASDAQ:CDW) Research Coverage Started at Redburn Atlantic

Redburn Atlantic began coverage on shares of CDW (NASDAQ:CDW) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $230.00 price objective on the information technology services provider’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Down 1.7 %

Shares of CDW opened at $177.63 on Friday. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 1-year low of $175.94 and a 1-year high of $263.37. The company has a 50-day moving average of $213.49 and a 200 day moving average of $219.94.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the business posted $2.60 earnings per share. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts expect that CDW will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.32%.

Hedge Funds Weigh In On CDW

Large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new stake in shares of CDW in the second quarter worth approximately $34,000. Quest Partners LLC purchased a new position in CDW in the 2nd quarter valued at $35,000. Canoe Financial LP acquired a new stake in CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC boosted its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW during the second quarter worth $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.