CDW (NASDAQ:CDW) Price Target Raised to $260.00 at Stifel Nicolaus

CDW (NASDAQ:CDW) had its price target raised by research analysts at Stifel Nicolaus from $250.00 to $260.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.35% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Evercore ISI increased their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Citigroup dropped 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. Barclays dropped their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.11.

CDW Stock Down 0.9 %

Shares of NASDAQ:CDW traded down $2.07 during trading on Wednesday, reaching $237.77. 71,882 shares of the company traded hands, compared to its average volume of 787,683. CDW has a 1-year low of $184.99 and a 1-year high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The firm has a market cap of $31.96 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 3.43 and a beta of 1.04. The firm has a fifty day simple moving average of $224.94 and a 200 day simple moving average of $233.60.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Analysts anticipate that CDW will post 9.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently made changes to their positions in CDW. Wellington Management Group LLP raised its stake in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the period. Vanguard Group Inc. increased its holdings in shares of CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares in the last quarter. First Trust Advisors LP raised its position in shares of CDW by 627.3% during the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares during the period. Finally, Norges Bank bought a new position in shares of CDW during the 4th quarter valued at about $111,736,000. 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.