JPMorgan Chase & Co. Lowers CDW (NASDAQ:CDW) Price Target to $175.00

CDW (NASDAQ:CDW) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $222.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.53% from the stock’s previous close.

CDW has been the topic of a number of other reports. Citigroup decreased their price target on CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.38.

CDW Stock Up 1.8 %

Shares of CDW opened at $151.47 on Thursday. The company’s 50-day moving average price is $167.67 and its 200 day moving average price is $183.69. CDW has a 12-month low of $137.31 and a 12-month high of $248.12. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a market cap of $19.96 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW announced that its board has authorized a share buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CDW. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. Summit Trail Advisors LLC increased its stake in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Fulcrum Equity Management lifted its position in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in shares of CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.