CDW Co. (NASDAQ:CDW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CDW Co. (NASDAQ:CDW) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $244.63.

A number of analysts have recently issued reports on CDW shares. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in CDW during the 2nd quarter worth approximately $35,000. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter worth $34,000. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter valued at $37,000. Fortitude Family Office LLC lifted its stake in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in CDW in the 2nd quarter worth $40,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ CDW opened at $176.75 on Friday. The company has a 50 day moving average of $206.88 and a 200 day moving average of $217.52. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a twelve month low of $172.95 and a twelve month high of $263.37. The firm has a market cap of $23.55 billion, a P/E ratio of 21.61, a PEG ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts expect that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW’s dividend payout ratio is presently 30.56%.

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.