Brokerages Set CDW Corporation (NASDAQ:CDW) Price Target at $189.86

by · The Cerbat Gem

Shares of CDW Corporation (NASDAQ:CDW – Get Free Report) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $189.8571.

A number of research firms have weighed in on CDW. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Raymond James Financial upgraded shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, November 25th. UBS Group decreased their price objective on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Evercore ISI dropped their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Barclays reduced their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th.

Get Our Latest Stock Analysis on CDW

CDW Stock Up 0.6%

Shares of NASDAQ CDW opened at $144.54 on Tuesday. The business has a 50-day moving average of $149.92 and a two-hundred day moving average of $164.94. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07. CDW has a 1 year low of $135.63 and a 1 year high of $222.92. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30.

CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be paid a $0.63 dividend. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, November 25th. CDW’s dividend payout ratio (DPR) is presently 31.82%.

Institutional Trading of CDW

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in CDW by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock worth $2,683,767,000 after purchasing an additional 72,550 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of CDW by 5.6% during the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock worth $592,311,000 after buying an additional 195,511 shares during the period. Invesco Ltd. grew its holdings in shares of CDW by 1.9% during the first quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock worth $396,157,000 after buying an additional 45,217 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock valued at $261,564,000 after acquiring an additional 1,332,454 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CDW by 2.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,508,543 shares of the information technology services provider’s stock valued at $241,759,000 after acquiring an additional 42,472 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Company Profile

(Get Free Report)

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.

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