CDW Co. (NASDAQ:CDW) Given Average Rating of "Hold" by Brokerages

CDW Co. (NASDAQ:CDW - Get Free Report) has received an average recommendation of "Hold" from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $208.71.

A number of research firms have weighed in on CDW. 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. UBS Group reduced their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays cut 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 note on Thursday, May 8th.

CDW Stock Performance

NASDAQ:CDW traded down $4.33 during trading hours on Tuesday, hitting $170.42. 1,115,977 shares of the company traded hands, compared to its average volume of 1,229,947. 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 $241.26. The firm has a 50-day moving average of $169.61 and a 200 day moving average of $175.77. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 3.21 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. On average, analysts forecast that CDW will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, May 23rd. CDW's payout ratio is presently 30.98%.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CDW. GW&K Investment Management LLC increased its holdings in CDW by 78.9% in the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of CDW in the 4th quarter valued at about $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the 1st quarter valued at approximately $31,000. Allworth Financial LP raised its position 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 acquiring an additional 52 shares during the period. Finally, OFI Invest Asset Management bought a new position in CDW during the 4th quarter worth approximately $32,000. 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.