Analysts Set CDW Co. (NASDAQ:CDW) Target Price at $254.63

CDW Co. (NASDAQ:CDW) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $254.63.

Several research analysts have recently commented on the company. Barclays reduced their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. Citigroup dropped their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th.

Insiders Place Their Bets

In other news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On CDW

A number of institutional investors have recently made changes to their positions in the stock. Tsfg LLC bought a new stake in shares of CDW during the 1st quarter valued at about $26,000. Larson Financial Group LLC bought a new stake in shares of CDW during the 4th quarter valued at about $30,000. Rise Advisors LLC bought a new stake in shares of CDW during the 1st quarter valued at about $34,000. ORG Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $34,000. Finally, Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $35,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.9 %

Shares of CDW stock opened at $221.15 on Wednesday. The business’s 50 day simple moving average is $223.22 and its 200 day simple moving average is $233.31. CDW has a 52-week low of $185.04 and a 52-week high of $263.37. The firm has a market cap of $29.72 billion, a PE ratio of 27.61, a P/E/G ratio of 3.17 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.13 and a current ratio of 1.13.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 earnings per share. On average, analysts predict that CDW will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. CDW’s payout ratio is presently 30.96%.

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.