Barclays Cuts CDW (NASDAQ:CDW) Price Target to $229.00

CDW (NASDAQ:CDW) had its price target decreased by Barclays from $232.00 to $229.00 in a report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

A number of other brokerages also recently 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 report on Friday, June 7th. JPMorgan Chase & Co. reduced their target price on CDW from $280.00 to $265.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Citigroup dropped their price target on CDW from $295.00 to $260.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $254.63.

CDW Price Performance

NASDAQ:CDW opened at $209.85 on Thursday. CDW has a 52-week low of $185.04 and a 52-week high of $263.37. The firm has a market capitalization of $28.03 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 3.17 and a beta of 1.04. The stock has a fifty day moving average of $225.29 and a 200 day moving average of $234.14. 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 the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 earnings per share. On average, research analysts expect that CDW will post 9.6 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Monday, August 26th. CDW’s dividend payout ratio is presently 30.96%.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Unison Asset Management LLC raised its stake in shares of CDW by 6.4% in the second quarter. Unison Asset Management LLC now owns 37,808 shares of the information technology services provider’s stock worth $8,463,000 after purchasing an additional 2,280 shares during the last quarter. FineMark National Bank & Trust increased its holdings in CDW by 1.2% in the 2nd quarter. FineMark National Bank & Trust now owns 57,759 shares of the information technology services provider’s stock worth $12,929,000 after buying an additional 697 shares in the last quarter. Simon Quick Advisors LLC raised its position in CDW by 54.3% in the 2nd quarter. Simon Quick Advisors LLC now owns 5,347 shares of the information technology services provider’s stock worth $1,197,000 after buying an additional 1,881 shares during the last quarter. Mascoma Wealth Management LLC lifted its stake in CDW by 104.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 557 shares of the information technology services provider’s stock valued at $125,000 after acquiring an additional 285 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of CDW by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after acquiring an additional 54 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other 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.