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

CDW Corporation (NASDAQ:CDW) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $150.12.

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

Insiders Place Their Bets

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider directly 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 document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kendall Capital Management purchased a new position in CDW in the second quarter worth $3,584,000. Man Group plc bought a new position in CDW in the second quarter valued at $1,262,000. Pzena Investment Management LLC bought a new position in CDW in the second quarter valued at $371,135,000. Raiffeisen Bank International AG raised its position in CDW by 17,453.5% during the second quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock valued at $2,111,000 after purchasing an additional 15,010 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new stake in CDW during the second quarter valued at about $300,073,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $165.11 on Friday. The firm has a fifty day moving average price of $144.83 and a two-hundred day moving average price of $135.20. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. CDW has a one year low of $97.12 and a one year high of $166.15. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. Analysts anticipate that CDW will post 10.33 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 25th. CDW’s dividend payout ratio is 30.29%.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.