Analysts Set CDW Corporation (NASDAQ:CDW) Target Price at $146.88

CDW Corporation (NASDAQ:CDW) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $146.8750.

A number of research firms recently weighed in on CDW. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. Barclays decreased their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $142.00 to $170.00 in a research note on Tuesday, June 23rd. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 price target on CDW in a research report on Wednesday, May 6th.

CDW Trading Down 0.2%

Shares of CDW opened at $129.72 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average is $127.50 and its two-hundred day moving average is $126.91. CDW has a twelve month low of $97.12 and a twelve month high of $183.66. The firm has a market capitalization of $16.57 billion, a P/E ratio of 15.78, a PEG ratio of 1.72 and a beta of 0.97.

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

CDW Dividend Announcement

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

Insider Activity at CDW

In related news, Director David W. Nelms acquired 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the transaction, the director owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of CDW by 20.5% in the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after buying an additional 48,547 shares during the last quarter. Local Pensions Partnership Investment Ltd lifted its stake in shares of CDW by 7.8% during the fourth quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock valued at $33,940,000 after buying an additional 18,000 shares during the period. Fenimore Asset Management Inc boosted its position in CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after acquiring an additional 9,485 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in CDW by 35.5% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,926 shares of the information technology services provider’s stock worth $9,115,000 after acquiring an additional 17,541 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of CDW during the fourth quarter worth $16,274,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.