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

CDW (NASDAQ:CDW) had its price target reduced by Barclays from $229.00 to $201.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

Several other research analysts have also weighed in on CDW. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup downgraded 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 research note on Tuesday, October 1st. Finally, Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has an average rating of “Hold” and an average price target of $246.71.

CDW Trading Up 0.1 %

Shares of CDW stock opened at $188.38 on Thursday. CDW has a 1 year low of $187.73 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. The business has a 50 day moving average price of $219.30 and a 200 day moving average price of $223.23. The company has a market capitalization of $25.10 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.86 and a beta of 1.06.

CDW (NASDAQ:CDW) last announced its 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 net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the firm posted $2.60 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that CDW will post 9.38 EPS for the current fiscal year.

CDW Increases Dividend

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

Hedge Funds Weigh In On CDW

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares during the period. Tompkins Financial Corp bought a new position in shares of CDW during the third quarter valued at approximately $113,000. Assetmark Inc. raised its position in shares of CDW by 37.3% during the 3rd quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock worth $221,000 after purchasing an additional 265 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of CDW by 22.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 233 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in CDW during the 3rd quarter valued at approximately $266,000. 93.15% of the stock is currently owned by institutional investors.

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.