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

Shares of CDW Corporation (NASDAQ:CDW) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $147.00.

CDW has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Morgan Stanley boosted their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th.

CDW Stock Performance

NASDAQ:CDW opened at $152.38 on Thursday. The firm has a market cap of $19.05 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $171.55. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The business has a 50 day moving average price of $140.21 and a 200-day moving average price of $129.45.

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is currently 30.29%.

Insider Buying and Selling

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its stake in shares of CDW by 48.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 87 shares in the last quarter. HighTower Advisors LLC raised its stake in CDW by 1.9% in the second quarter. HighTower Advisors LLC now owns 22,009 shares of the information technology services provider’s stock worth $3,095,000 after buying an additional 419 shares in the last quarter. California State Teachers Retirement System lifted its holdings in CDW by 13,221.2% in the second quarter. California State Teachers Retirement System now owns 29,850,699 shares of the information technology services provider’s stock worth $4,198,202,000 after buying an additional 29,626,614 shares during the period. Studio Investment Management LLC boosted its position in CDW by 6.0% during the 2nd quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 150 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in CDW by 6.9% during the 2nd quarter. HB Wealth Management LLC now owns 6,896 shares of the information technology services provider’s stock valued at $970,000 after acquiring an additional 445 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

About CDW

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.