CDW Co. (NASDAQ:CDW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of CDW Co. (NASDAQ:CDW) have earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $238.90.

Several analysts have recently weighed in on the company. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays raised their target price on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, Citigroup raised their target price on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th.

CDW Trading Down 0.6 %

NASDAQ:CDW opened at $241.38 on Thursday. The business’s 50-day moving average is $247.40 and its two-hundred day moving average is $226.65. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW has a 12 month low of $160.66 and a 12 month high of $263.37. The firm has a market capitalization of $32.43 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.75 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 company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. Research analysts predict that CDW will post 9.88 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s payout ratio is currently 30.62%.

Hedge Funds Weigh In On CDW

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in CDW in the third quarter valued at approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW during the third quarter valued at approximately $28,000. TFC Financial Management Inc. raised 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 valued at $29,000 after buying an additional 55 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $30,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of CDW during the fourth quarter valued at approximately $33,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

About CDW

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.