UBS Group Lowers CDW (NASDAQ:CDW) Price Target to $220.00

CDW (NASDAQ:CDW) had its price target reduced by UBS Group from $233.00 to $220.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

CDW has been the topic of several other research reports. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Morgan Stanley boosted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Stock Up 0.2 %

Shares of CDW stock opened at $181.34 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a market cap of $24.17 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.01 and a beta of 1.01. CDW has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a 50 day simple moving average of $180.54 and a two-hundred day simple moving average of $207.16.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.60 earnings per share. On average, research analysts expect that CDW will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDW. PDS Planning Inc grew its holdings in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares during the last quarter. Profund Advisors LLC grew its stake in CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. OneAscent Wealth Management LLC grew its stake in CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Fulcrum Equity Management increased its holdings in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of CDW by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock worth $2,753,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

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.