CDW Corporation (NASDAQ:CDW) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CDW Corporation (NASDAQ:CDW) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $160.4286.

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of CDW from $190.00 to $162.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Morgan Stanley upped their price objective on CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research note on Tuesday, January 27th. Evercore reissued an “outperform” rating and issued a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Finally, Citigroup upped their price target on CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th.

Institutional Trading of CDW

Hedge funds and other institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in CDW in the third quarter valued at about $26,000. Quent Capital LLC acquired a new position in CDW during the 3rd quarter worth approximately $57,000. eCIO Inc. acquired a new position in CDW during the 4th quarter worth approximately $61,000. Covestor Ltd raised its stake in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in shares of CDW during the 4th quarter worth approximately $110,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $122.01 on Monday. The firm’s fifty day simple moving average is $124.63 and its 200-day simple moving average is $138.33. CDW has a 12 month low of $112.98 and a 12 month high of $192.30. The stock has a market capitalization of $15.61 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.69 and a beta of 1.02. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The firm had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the prior year, the business earned $2.48 EPS. CDW’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, February 25th. This represents a $2.52 dividend on an annualized basis and a yield of 2.1%. CDW’s dividend payout ratio is presently 31.15%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.