CDW Corporation (NASDAQ:CDW) Receives Average Recommendation of “Hold” from Brokerages

CDW Corporation (NASDAQ:CDW) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $196.2857.

A number of analysts recently commented on CDW shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. UBS Group cut their price objective on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Barclays lowered their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday.

CDW Trading Down 3.3%

Shares of CDW stock opened at $141.56 on Friday. CDW has a 1 year low of $137.31 and a 1 year high of $222.92. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.22. The business has a 50 day moving average price of $158.68 and a 200 day moving average price of $168.64. The company has a market capitalization of $18.43 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.43 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 51.89% and a net margin of 4.76%.The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the business posted $2.50 earnings per share. CDW’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that CDW will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s payout ratio is currently 31.06%.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC acquired a new stake in shares of CDW in the first quarter worth approximately $212,000. Envestnet Asset Management Inc. boosted its holdings in shares of CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock valued at $33,255,000 after purchasing an additional 35,737 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of CDW by 30.3% during 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 buying an additional 72 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of CDW by 4.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 10,793 shares of the information technology services provider’s stock valued at $1,730,000 after buying an additional 491 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of CDW by 43.6% during the 1st quarter. Brown Advisory Inc. now owns 2,057 shares of the information technology services provider’s stock worth $330,000 after buying an additional 625 shares during 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.