CDW (NASDAQ:CDW) Shares Gap Down to $232.47

CDW Co. (NASDAQ:CDW) shares gapped down prior to trading on Wednesday . The stock had previously closed at $232.47, but opened at $220.48. CDW shares last traded at $220.65, with a volume of 67,628 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CDW. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays reduced their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $251.11.

CDW Price Performance

The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The stock has a 50-day simple moving average of $226.43 and a 200 day simple moving average of $234.46.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.15). The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities research analysts forecast that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. CDW’s dividend payout ratio is currently 30.96%.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC lifted its stake in shares of CDW by 2.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of CDW by 5.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after acquiring an additional 43 shares in the last quarter. RDA Financial Network increased its holdings in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of CDW by 1.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after acquiring an additional 47 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in CDW by 6.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after purchasing an additional 49 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

About CDW

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.