CDW Co. (NASDAQ:CDW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CDW Co. (NASDAQ:CDW) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $244.63.

A number of research analysts have recently commented on CDW shares. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st.

Institutional Trading of CDW

A number of institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW in the third quarter worth $416,111,000. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the period. Holocene Advisors LP bought a new stake in shares of CDW in the third quarter worth $172,217,000. Perpetual Ltd bought a new stake in shares of CDW in the third quarter worth $158,300,000. Finally, Lazard Asset Management LLC grew its holdings in shares of CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.1 %

NASDAQ CDW opened at $177.91 on Friday. CDW has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. 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 50 day simple moving average of $211.13 and a two-hundred day simple moving average of $219.03. The stock has a market cap of $23.71 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05.

CDW (NASDAQ:CDW) last released 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 business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the business posted $2.60 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that CDW will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) is presently 30.32%.

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.