CDW Corporation (NASDAQ:CDW) Stock Has Consensus Price Target of $150.12

CDW Corporation (NASDAQ:CDW) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $150.12.

A number of equities research analysts have recently issued reports on CDW shares. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Citigroup lifted their price objective on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley increased their target price on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Barclays dropped their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Monday, September 21st.

Insiders Place Their Bets

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of CDW

Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of CDW in the second quarter worth about $2,143,082,000. Pzena Investment Management LLC acquired a new position in CDW in the 2nd quarter worth about $371,135,000. Jupiter Topco LLC bought a new position in CDW in the second quarter valued at about $300,073,000. Alyeska Investment Group L.P. boosted its stake in shares of CDW by 197.1% during the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after purchasing an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of CDW during the second quarter valued at about $255,058,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $133.29 on Monday. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW has a 12 month low of $97.12 and a 12 month high of $162.47. The stock’s 50 day moving average is $142.79 and its 200-day moving average is $132.08.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the firm posted $2.60 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that CDW will post 10.33 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW’s dividend payout ratio is 30.29%.

About CDW

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers plan, acquire, implement and manage information technology through a broad portfolio of hardware, software and cloud-based solutions.

Its offerings include computers, servers, networking equipment, data storage, cybersecurity products, collaboration tools and software. CDW also provides professional and managed services, including cloud adoption, data center modernization, security, virtualization, configuration, technical support and lifecycle management.

Founded in 1984 as Computer Discount Warehouse, the company is headquartered in Vernon Hills, Illinois.