CDW Co. (NASDAQ:CDW) Receives Consensus Rating of “Moderate Buy” from Analysts

CDW Co. (NASDAQ:CDW) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $242.67.

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of 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 research note on Monday, October 28th. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company.

Hedge Funds Weigh In On CDW

A number of large investors have recently made changes to their positions in the company. State Street Corp boosted its stake in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after buying an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW in the third quarter valued at about $416,111,000. Janus Henderson Group PLC grew its stake 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 valued at $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC increased its position in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $192.02 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. CDW has a 12 month low of $168.43 and a 12 month high of $263.37. The firm has a fifty day simple moving average of $183.86 and a 200 day simple moving average of $201.96. The stock has a market capitalization of $25.59 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Research analysts forecast that CDW will post 9.35 EPS for the current fiscal year.

CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW’s dividend payout ratio is currently 31.37%.

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.