CDW (NASDAQ:CDW) Sets New 12-Month High at $256.92

CDW Co. (NASDAQ:CDW)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $256.92 and last traded at $256.56, with a volume of 41096 shares trading hands. The stock had previously closed at $253.85.

Analyst Ratings Changes

CDW has been the subject of a number of recent research reports. Morgan Stanley downgraded CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target for the company. in a research report on Tuesday, December 12th. Evercore ISI increased their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on shares of CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Barclays boosted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $228.60.

CDW Price Performance

The business has a fifty day moving average of $241.40 and a two-hundred day moving average of $222.42. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm has a market capitalization of $34.61 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. As a group, research analysts predict that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.96%. CDW’s dividend payout ratio (DPR) is currently 30.62%.

CDW announced that its board has initiated a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of CDW in the third quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in CDW in the 4th quarter valued at about $30,000. VisionPoint Advisory Group LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $28,000. TFC Financial Management Inc. increased its holdings in shares of CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 55 shares during the period. Finally, ORG Partners LLC bought a new position in shares of CDW during the fourth quarter worth approximately $36,000. Institutional investors own 93.15% of the company’s stock.

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.