CDW Co. (NASDAQ:CDW) Given Consensus Rating of "Moderate Buy" by Analysts

CDW Co. (NASDAQ:CDW - Get Free Report) has received an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $216.38.

Several research analysts have commented on CDW shares. Citigroup lifted their price target on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group lowered their target price on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Barclays dropped their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th.

CDW Stock Down 0.5%

CDW opened at $188.43 on Friday. The business's fifty day simple moving average is $162.72 and its 200 day simple moving average is $176.90. CDW has a 52 week low of $137.31 and a 52 week high of $241.26. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market cap of $24.81 billion, a PE ratio of 23.64, a P/E/G ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company's revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 EPS. As a group, research analysts expect that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's payout ratio is currently 30.98%.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CDW

Large investors have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the period. Jacobi Capital Management LLC raised its stake in CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after buying an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings in CDW by 1.7% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,223 shares of the information technology services provider's stock worth $735,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.