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

Shares of CDW Co. (NASDAQ:CDW) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $217.38.

A number of equities research analysts have recently commented on CDW shares. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Citigroup lowered their price target on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday.

CDW Stock Up 1.8 %

CDW stock opened at $151.47 on Monday. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The firm’s 50-day simple moving average is $167.67 and its 200 day simple moving average is $183.19. The stock has a market cap of $19.96 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Research analysts predict that CDW will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.65%. CDW’s dividend payout ratio is currently 31.37%.

Hedge Funds Weigh In On CDW

A number of large investors have recently modified their holdings of CDW. Orion Capital Management LLC purchased a new stake in shares of CDW in the 4th quarter valued at about $30,000. Allworth Financial LP increased its position in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new stake in CDW in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust lifted its position 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 valued at $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. grew its stake in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after buying an additional 119 shares in the last quarter. 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.