CDW (NASDAQ:CDW) Price Target Cut to $148.00 by Analysts at Citigroup

CDW (NASDAQ:CDW) had its price target reduced by Citigroup from $160.00 to $148.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

A number of other brokerages also recently weighed in on CDW. Barclays decreased 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, November 5th. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $177.00 to $141.00 in a report on Tuesday. UBS Group reduced their price target on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of CDW in a report on Tuesday. Finally, Raymond James Financial upgraded shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $171.00.

CDW Trading Down 5.3%

NASDAQ CDW opened at $124.76 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. CDW has a fifty-two week low of $124.08 and a fifty-two week high of $222.92. The stock has a market cap of $16.24 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The stock has a 50 day simple moving average of $139.84 and a two-hundred day simple moving average of $155.41.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. On average, analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.52 annualized dividend and a yield of 2.0%. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is currently 31.82%.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the transaction, the insider owned 28,110 shares of the company’s stock, valued at $4,108,838.70. The trade was a 20.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in shares of CDW by 245.7% in the 2nd quarter. Marshall Wace LLP now owns 168,452 shares of the information technology services provider’s stock valued at $30,084,000 after acquiring an additional 119,719 shares during the last quarter. DNB Asset Management AS lifted its position in CDW by 733.9% in the second quarter. DNB Asset Management AS now owns 25,641 shares of the information technology services provider’s stock worth $4,579,000 after buying an additional 22,566 shares during the last quarter. SG Americas Securities LLC boosted its stake in CDW by 1,622.9% during the second quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock worth $36,118,000 after buying an additional 190,500 shares during the period. TD Private Client Wealth LLC increased its position in CDW by 781.3% during the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider’s stock valued at $488,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Crescent Grove Advisors LLC raised its stake in shares of CDW by 12.6% in the second quarter. Crescent Grove Advisors LLC now owns 160,740 shares of the information technology services provider’s stock valued at $28,707,000 after acquiring an additional 18,009 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.