CDW Co. (NASDAQ:CDW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of CDW Co. (NASDAQ:CDW) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $238.90.

Several brokerages have recently commented on CDW. Barclays boosted their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. upped their price objective on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Citigroup boosted their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th.

CDW Price Performance

Shares of NASDAQ:CDW opened at $236.78 on Thursday. The firm has a 50 day moving average of $247.57 and a 200-day moving average of $226.99. The stock has a market capitalization of $31.82 billion, a PE ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW has a 12 month low of $160.66 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 EPS. On average, equities research analysts predict that CDW will post 9.88 EPS for the current fiscal year.

CDW announced that its board has approved a share buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is currently 30.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CDW. Cambridge Investment Research Advisors Inc. boosted its stake in CDW by 9.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock worth $1,165,000 after acquiring an additional 547 shares in the last quarter. Acadian Asset Management LLC bought a new position in CDW during the first quarter worth $103,000. Panagora Asset Management Inc. boosted its stake in CDW by 160.4% during the first quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after acquiring an additional 2,861 shares in the last quarter. Yousif Capital Management LLC boosted its stake in CDW by 0.3% during the first quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock worth $3,671,000 after acquiring an additional 65 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in CDW by 1.5% during the first quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after acquiring an additional 515 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

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.