CDW Corporation (NASDAQ:CDW) Given Consensus Rating of “Moderate Buy” by Analysts

CDW Corporation (NASDAQ:CDW) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Three equities research 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 target price among analysts that have covered the stock in the last year is $146.8750.

Several analysts have recently weighed in on the company. Morgan Stanley upgraded CDW from an “equal weight” rating to an “overweight” rating and raised 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 price target on the stock in a research note on Wednesday, May 27th. Barclays lowered their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. Finally, UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th.

Insider Buying and Selling

In related news, Director David W. Nelms acquired 18,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On CDW

Several hedge funds and other institutional investors have recently modified their holdings of CDW. Root Financial Partners LLC lifted its position in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 93 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in shares of CDW by 1.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock valued at $824,000 after purchasing an additional 100 shares during the period. Hollencrest Capital Management raised its stake in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Allied Private Wealth LLC purchased a new stake in CDW during the 2nd quarter worth about $28,000. Finally, Empowered Funds LLC boosted its stake in CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $139.38 on Wednesday. The firm has a fifty day simple moving average of $124.85 and a 200-day simple moving average of $127.15. The company has a market capitalization of $17.81 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. CDW has a twelve month low of $97.12 and a twelve month high of $183.66. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) 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 firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the firm posted $2.15 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts anticipate that CDW will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s dividend payout ratio is currently 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.