Analysts Set CDW Co. (NASDAQ:CDW) Price Target at $242.67

Shares of CDW Co. (NASDAQ:CDW) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $242.67.

CDW has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its position in CDW by 10.7% during the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in CDW by 7.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after purchasing an additional 451 shares in the last quarter. abrdn plc grew its position in CDW by 31.4% during the 3rd quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock worth $12,409,000 after purchasing an additional 13,079 shares in the last quarter. Ceredex Value Advisors LLC grew its position in CDW by 22.7% during the 3rd quarter. Ceredex Value Advisors LLC now owns 436,034 shares of the information technology services provider’s stock worth $98,674,000 after purchasing an additional 80,650 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in CDW by 2.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 13,245 shares of the information technology services provider’s stock worth $2,997,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $168.37 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm’s 50-day moving average price is $186.22 and its two-hundred day moving average price is $197.19. CDW has a 52-week low of $164.98 and a 52-week high of $263.37. The stock has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.48%. CDW’s dividend payout ratio is presently 31.37%.

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

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.