CDW (NASDAQ:CDW) Given New $200.00 Price Target at Evercore ISI

CDW (NASDAQ:CDW) had its price target reduced by Evercore ISI from $215.00 to $200.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other research analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CDW in a report on Wednesday, October 8th. Barclays dropped their target price on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. UBS Group dropped their target price on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Citigroup boosted their target price on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $201.71.

CDW Trading Up 1.9%

CDW opened at $155.38 on Monday. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. CDW has a 52 week low of $137.31 and a 52 week high of $222.92. The business’s 50 day moving average is $161.70 and its two-hundred day moving average is $168.46. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 earnings per share. On average, research analysts predict that CDW will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 25th. CDW’s payout ratio is presently 31.06%.

Institutional Trading of CDW

A number of institutional investors have recently bought and sold shares of CDW. Vestcor Inc raised its stake in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider’s stock worth $652,000 after buying an additional 71 shares during the period. TD Private Client Wealth LLC raised its stake in shares of CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 72 shares during the period. GW&K Investment Management LLC raised its stake in shares of CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the period. GAMMA Investing LLC raised its stake in shares of CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 81 shares during the period. Finally, Quotient Wealth Partners LLC raised its stake in shares of CDW by 6.6% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,340 shares of the information technology services provider’s stock valued at $215,000 after purchasing an additional 83 shares during the period. 93.15% of the stock is currently owned by hedge funds and other 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.