Barclays Cuts CDW (NASDAQ:CDW) Price Target to $232.00

CDW (NASDAQ:CDW) had its price objective cut by Barclays from $261.00 to $232.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

A number of other research analysts also recently issued reports on CDW. JPMorgan Chase & Co. upped their price target on CDW from $267.00 to $280.00 and gave the company an overweight rating in a report on Thursday, April 11th. Citigroup upped their price objective on CDW from $255.00 to $295.00 and gave the company a buy rating in a research report on Thursday, April 4th. Finally, Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $247.50.

CDW Trading Up 0.5 %

Shares of NASDAQ:CDW opened at $219.56 on Thursday. The company has a market cap of $29.51 billion, a P/E ratio of 27.41, a PEG ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.11. CDW has a 1 year low of $162.59 and a 1 year high of $263.37. The stock’s fifty day moving average price is $245.67 and its 200-day moving average price is $229.47.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. Sell-side analysts expect that CDW will post 9.89 earnings per share for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, May 23rd. CDW’s payout ratio is 30.96%.

CDW announced that its Board of Directors has approved a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently bought and sold shares of CDW. OFI Invest Asset Management purchased a new stake in CDW in the third quarter worth about $25,000. Tsfg LLC purchased a new stake in CDW in the first quarter worth about $26,000. VisionPoint Advisory Group LLC purchased a new stake in CDW in the third quarter worth about $28,000. Larson Financial Group LLC purchased a new stake in CDW in the fourth quarter worth about $30,000. Finally, Rise Advisors LLC purchased a new stake in CDW in the first quarter worth about $34,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.