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

Shares of CDW Corporation (NASDAQ:CDW) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $142.1429.

A number of research analysts have issued reports on CDW shares. Morgan Stanley boosted their target price on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. Raymond James Financial set a $150.00 target price on shares of CDW in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on shares of CDW from $160.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup cut their price target on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, May 8th.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp grew its position in CDW by 316.0% in the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after acquiring an additional 3,719 shares in the last quarter. Empowered Funds LLC raised its stake in CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares during the last quarter. California State Teachers Retirement System raised its stake in CDW by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after purchasing an additional 1,242 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock valued at $8,819,000 after purchasing an additional 45,950 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in shares of CDW by 17.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after buying an additional 6,143 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW opened at $110.82 on Tuesday. The company has a 50-day moving average of $120.87 and a 200-day moving average of $129.92. The company has a market capitalization of $14.16 billion, a P/E ratio of 13.48, a PEG ratio of 1.50 and a beta of 1.04. CDW has a 1-year low of $97.12 and a 1-year high of $186.70. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Equities analysts expect that CDW will post 10 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 2.3%. CDW’s payout ratio is presently 30.66%.

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.