Analysts Set CDW Corporation (NASDAQ:CDW) PT at $146.88

Shares of CDW Corporation (NASDAQ:CDW) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $146.8750.

Several research firms have recently issued reports on CDW. Raymond James Financial set a $150.00 price objective on shares of CDW in a research report on Wednesday, May 6th. Citigroup upped their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th.

Insider Activity

In other news, Director David W. Nelms bought 18,000 shares of CDW stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On CDW

Several institutional investors have recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp grew its holdings in shares of CDW by 316.0% in the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock valued at $785,000 after purchasing an additional 3,719 shares in the last quarter. Empowered Funds LLC raised its stake in CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares in the last quarter. California State Teachers Retirement System raised its stake in CDW by 0.6% during the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after purchasing an additional 1,242 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock valued at $8,819,000 after purchasing an additional 45,950 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in CDW by 17.7% during the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after purchasing an additional 6,143 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $133.24 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. CDW has a twelve month low of $97.12 and a twelve month high of $183.66. The business has a 50-day moving average price of $126.34 and a 200-day moving average price of $127.10. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the company earned $2.15 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts predict that CDW will post 10.21 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were given a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW’s dividend payout ratio (DPR) is presently 30.66%.

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.