CDW Co. (NASDAQ:CDW) Given Average Recommendation of “Moderate Buy” by Brokerages

CDW Co. (NASDAQ:CDW) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $242.67.

Several equities research analysts have weighed in on CDW shares. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th.

CDW Stock Performance

NASDAQ CDW opened at $191.74 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The company has a market cap of $25.55 billion, a P/E ratio of 24.06, a P/E/G ratio of 5.40 and a beta of 1.01. The stock has a 50-day moving average of $184.32 and a two-hundred day moving average of $201.43. CDW has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, analysts anticipate that CDW will post 9.35 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW’s dividend payout ratio is presently 31.37%.

CDW announced that its board has authorized a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On CDW

Several large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in CDW by 9.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,261 shares of the information technology services provider’s stock worth $730,000 after purchasing an additional 286 shares during the period. Cetera Investment Advisers raised its holdings in shares of CDW by 33.4% in the second quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock valued at $2,886,000 after buying an additional 3,228 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of CDW during the second quarter worth about $1,285,000. Czech National Bank grew its holdings in shares of CDW by 6.2% during the third quarter. Czech National Bank now owns 27,210 shares of the information technology services provider’s stock worth $6,158,000 after buying an additional 1,600 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in CDW by 10.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,892 shares of the information technology services provider’s stock valued at $428,000 after acquiring an additional 185 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

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.