CDW (NASDAQ:CDW) Price Target Raised to $193.00

CDW (NASDAQ:CDW) had its price objective lifted by Morgan Stanley from $190.00 to $193.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the information technology services provider’s stock.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $241.75.

CDW Stock Performance

NASDAQ CDW opened at $171.49 on Monday. The company’s fifty day moving average is $194.33 and its two-hundred day moving average is $212.73. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 5.01 and a beta of 1.02. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 52-week low of $170.68 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

Hedge Funds Weigh In On CDW

Institutional investors have recently modified their holdings of the stock. Raymond James & Associates increased its position in CDW by 16.6% in the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after purchasing an additional 19,867 shares during the period. Continuum Advisory LLC boosted its stake in CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 220 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in CDW during the 2nd quarter worth $270,000. United Bank lifted its stake in shares of CDW by 7.9% in the 2nd quarter. United Bank now owns 5,021 shares of the information technology services provider’s stock valued at $1,124,000 after purchasing an additional 369 shares during the period. Finally, Benin Management CORP bought a new position in shares of CDW in the 2nd quarter worth $537,000. 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.