CDW Corporation (NASDAQ:CDW) Receives Average Rating of “Hold” from Analysts

CDW Corporation (NASDAQ:CDW) has earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $208.50.

A number of analysts recently commented on the stock. UBS Group decreased their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barclays cut their price target on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Citigroup lifted their price target on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, July 11th.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of the company’s stock in a transaction dated 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 owned 144,931 shares of the company’s stock, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’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 completion of the sale, the insider owned 36,077 shares of the company’s stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of CDW

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in CDW by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock valued at $2,683,767,000 after purchasing an additional 72,550 shares during the period. Select Equity Group L.P. grew its stake in shares of CDW by 5.6% in the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock valued at $592,311,000 after buying an additional 195,511 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after buying an additional 54,341 shares during the period. Massachusetts Financial Services Co. MA lifted its position in CDW by 15.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock worth $447,596,000 after acquiring an additional 378,841 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.2%

CDW opened at $182.18 on Wednesday. The business has a 50 day simple moving average of $178.48 and a 200-day simple moving average of $175.84. CDW has a 12 month low of $137.31 and a 12 month high of $237.48. The stock has a market capitalization of $23.99 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.05 and a beta of 0.93. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the company earned $1.92 earnings per share. CDW’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.37%. CDW’s dividend payout ratio (DPR) is presently 30.98%.

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.