CDW (NASDAQ:CDW) Upgraded to Buy at Northcoast Research

Northcoast Research upgraded shares of CDW (NASDAQ:CDWFree Report) from a neutral rating to a buy rating in a report issued on Friday, Marketbeat.com reports. They currently have $270.00 price objective on the information technology services provider’s stock.

Several other brokerages also recently commented on CDW. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus lowered their target price on CDW from $265.00 to $250.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Finally, Citigroup reduced their price target on CDW from $295.00 to $260.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, CDW presently has a consensus rating of Moderate Buy and a consensus price target of $250.00.

Read Our Latest Stock Report on CDW

CDW Stock Up 1.1 %

CDW stock opened at $224.24 on Friday. The company has a market cap of $30.14 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 3.28 and a beta of 1.06. The business has a 50-day simple moving average of $233.99 and a 200 day simple moving average of $232.21. CDW has a 52 week low of $168.49 and a 52 week high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDWGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Sell-side analysts anticipate that CDW will post 9.67 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s payout ratio is presently 30.96%.

Institutional Trading of CDW

Institutional investors have recently added to or reduced their stakes in the stock. Tsfg LLC bought a new stake in CDW in the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in CDW in the first quarter valued at approximately $34,000. Larson Financial Group LLC acquired a new position in CDW in the fourth quarter valued at approximately $30,000. VisionPoint Advisory Group LLC acquired a new position in CDW in the third quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new position in CDW in the fourth quarter valued at approximately $36,000. 93.15% of the stock is currently owned by institutional investors.

CDW Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CDW (NASDAQ:CDW)

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