Barclays Has Lowered Expectations for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its price objective trimmed by Barclays from $229.00 to $201.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Stifel Nicolaus lifted their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.71.

CDW Stock Performance

NASDAQ CDW opened at $188.38 on Thursday. The business’s 50-day moving average price is $219.30 and its 200 day moving average price is $223.35. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market cap of $25.16 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.96 and a beta of 1.03. CDW has a 52-week low of $187.73 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $2.43 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that CDW will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. CDW’s dividend payout ratio is 30.32%.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently made changes to their positions in CDW. State of Alaska Department of Revenue lifted its position in shares of CDW by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 14,533 shares of the information technology services provider’s stock valued at $3,717,000 after acquiring an additional 65 shares during the period. First Trust Direct Indexing L.P. boosted its position in CDW by 23.5% during the first quarter. First Trust Direct Indexing L.P. now owns 2,291 shares of the information technology services provider’s stock worth $586,000 after purchasing an additional 436 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in CDW by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 10,606 shares of the information technology services provider’s stock valued at $2,519,000 after purchasing an additional 286 shares during the last quarter. Norden Group LLC increased its position in shares of CDW by 47.3% in the first quarter. Norden Group LLC now owns 3,482 shares of the information technology services provider’s stock valued at $891,000 after buying an additional 1,118 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of CDW during the 1st quarter worth $525,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

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.