Brokerages Set CDW Co. (NASDAQ:CDW) Target Price at $217.38

Shares of CDW Co. (NASDAQ:CDW - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $217.38.

Several research firms recently issued reports on CDW. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup lowered their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th.

CDW Price Performance

NASDAQ CDW traded down $2.72 during midday trading on Monday, hitting $156.22. The company had a trading volume of 152,027 shares, compared to its average volume of 1,173,725. The firm has a 50-day moving average price of $164.84 and a 200-day moving average price of $181.85. The company has a market capitalization of $20.59 billion, a PE ratio of 19.64, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW has a twelve month low of $137.31 and a twelve month high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.60%. CDW's dividend payout ratio (DPR) is presently 31.37%.

Hedge Funds Weigh In On CDW

Several large investors have recently modified their holdings of CDW. Orion Capital Management LLC acquired a new stake in CDW in the fourth quarter valued at $30,000. Allworth Financial LP increased its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the period. OFI Invest Asset Management bought a new position in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Optiver Holding B.V. boosted its holdings in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 119 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Company Profile

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.