CDW (NASDAQ:CDW) Downgraded by Citigroup

Citigroup lowered shares of CDW (NASDAQ:CDW) from a buy rating to a neutral rating in a report released on Tuesday, Marketbeat reports. The firm currently has $245.00 price target on the information technology services provider’s stock, down from their prior price target of $250.00.

Several other equities analysts have also issued reports on CDW. Northcoast Research upgraded CDW from a neutral rating to a buy rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. Stifel Nicolaus upped their price target on shares of CDW from $250.00 to $260.00 and gave the company a buy rating in a report on Wednesday, July 17th. Finally, Barclays cut their price target on shares of CDW from $232.00 to $229.00 and set an equal weight rating on the stock in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $255.00.

CDW Price Performance

CDW stock opened at $221.69 on Tuesday. The firm has a 50 day simple moving average of $220.40 and a two-hundred day simple moving average of $228.55. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market cap of $29.79 billion, a PE ratio of 27.63, a P/E/G ratio of 3.40 and a beta of 1.03. CDW has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company earned $2.43 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that CDW will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.12%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Transactions at CDW

In related news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction dated 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 acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On CDW

Several large investors have recently made changes to their positions in CDW. Vanguard Group Inc. grew its stake in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Wellington Management Group LLP boosted its holdings in CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after acquiring an additional 781,421 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in CDW by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after acquiring an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of CDW by 3.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after acquiring an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CDW by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other 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.