CDW Co. (NASDAQ:CDW) Receives Consensus Recommendation of “Hold” from Analysts

CDW Co. (NASDAQ:CDW) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $208.71.

Several equities analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Citigroup upped their price target on shares of CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. UBS Group lowered their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Barclays cut their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th.

CDW Trading Down 0.5%

NASDAQ:CDW opened at $177.43 on Tuesday. The firm has a 50 day moving average of $167.89 and a 200 day moving average of $175.80. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW has a 52 week low of $137.31 and a 52 week high of $241.26. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 3.21 and a beta of 0.95.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) is presently 30.98%.

Insider Buying and Selling at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares of the company’s stock, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CDW

A number of institutional investors have recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new position in CDW during the fourth quarter worth approximately $3,150,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CDW by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,296 shares of the information technology services provider’s stock valued at $58,007,000 after buying an additional 1,327 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in CDW by 13.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,611 shares of the information technology services provider’s stock valued at $2,891,000 after acquiring an additional 1,991 shares during the period. Vest Financial LLC grew its stake in CDW by 75.1% in the 4th quarter. Vest Financial LLC now owns 1,595 shares of the information technology services provider’s stock valued at $278,000 after acquiring an additional 684 shares during the period. Finally, WCM Investment Management LLC raised its position in CDW by 22.2% during the fourth quarter. WCM Investment Management LLC now owns 1,686 shares of the information technology services provider’s stock worth $292,000 after acquiring an additional 306 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.