Brokerages Set CDW Corporation (NASDAQ:CDW) Price Target at $160.43
by Mitch Edgeman · The Markets DailyCDW Corporation (NASDAQ:CDW – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $160.4286.
A number of equities research analysts recently weighed in on CDW shares. Citigroup raised their price target on shares of CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a report on Tuesday, January 27th. JPMorgan Chase & Co. lowered their price target on shares of CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Barclays lowered their price target on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, UBS Group decreased their price objective on shares of CDW from $190.00 to $162.00 and set a “buy” rating for the company in a report on Thursday, February 5th.
Get Our Latest Stock Analysis on CDW
CDW Price Performance
CDW opened at $126.73 on Monday. The company has a fifty day simple moving average of $124.55 and a 200 day simple moving average of $137.71. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.69 and a beta of 1.02. CDW has a twelve month low of $112.98 and a twelve month high of $192.30. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.13. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.48 EPS. Equities research analysts expect that CDW will post 9.41 EPS for the current fiscal year.
CDW Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.15%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CDW. Marshall Wace LLP grew its holdings in CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after acquiring an additional 430,796 shares in the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in CDW during the 3rd quarter worth $29,649,000. SG Americas Securities LLC grew its holdings in CDW by 531.9% during the 4th quarter. SG Americas Securities LLC now owns 189,285 shares of the information technology services provider’s stock worth $25,781,000 after acquiring an additional 159,332 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in CDW during the 4th quarter worth $18,948,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in CDW during the 4th quarter worth $16,274,000. 93.15% of the stock is owned by institutional investors and hedge funds.
About CDW
CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.
CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.