CDW Corporation (NASDAQ:CDW) Given Average Rating of “Moderate Buy” by Analysts

Shares of CDW Corporation (NASDAQ:CDW) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $146.8750.

CDW has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $142.00 to $170.00 in a report on Tuesday, June 23rd. UBS Group reduced their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Raymond James Financial set a $150.00 price target on shares of CDW in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th.

CDW Price Performance

Shares of CDW stock opened at $133.24 on Wednesday. The business has a 50-day moving average price of $126.34 and a 200 day moving average price of $127.02. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $183.66. The firm has a market cap of $17.02 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting analysts’ consensus estimates of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the business posted $2.15 EPS. CDW’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that CDW will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. CDW’s dividend payout ratio is 30.66%.

Insiders Place Their Bets

In related news, Director David W. Nelms purchased 18,000 shares of CDW stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the purchase, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CDW. Root Financial Partners LLC lifted its position in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 93 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in CDW by 1.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock valued at $824,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management grew its position in shares of CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Allied Private Wealth LLC purchased a new stake in shares of CDW during the second quarter worth about $28,000. Finally, Empowered Funds LLC increased its stake in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.