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

Shares of CDW Co. (NASDAQ:CDW) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $241.75.

Several research analysts have weighed in on CDW shares. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley raised their target price on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company.

Hedge Funds Weigh In On CDW

Large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW in the 3rd quarter worth $416,111,000. Janus Henderson Group PLC boosted its position in CDW by 7,029.1% during the 3rd 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 purchased a new position in CDW during the third quarter valued at approximately $172,217,000. Perpetual Ltd purchased a new position in shares of CDW during the 3rd quarter valued at $158,300,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of CDW in the second quarter worth $79,549,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.0 %

Shares of CDW stock opened at $177.79 on Tuesday. The stock has a market cap of $23.69 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average of $195.27 and a two-hundred day moving average of $213.06. CDW has a 12-month low of $172.95 and a 12-month high of $263.37.

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

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend 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 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.