CDW Corporation (NASDAQ:CDW) Given Consensus Rating of "Hold" by Brokerages

Shares of CDW Corporation (NASDAQ:CDW - Get Free Report) have earned an average recommendation of "Hold" from the seven analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $208.71.

A number of analysts recently issued reports on the stock. UBS Group dropped their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Citigroup increased their target price on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Barclays lowered their price objective 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 Trading Down 0.4%

Shares of CDW stock opened at $182.06 on Friday. The firm has a market cap of $23.97 billion, a P/E ratio of 22.56, a PEG ratio of 3.07 and a beta of 0.93. CDW has a 1-year low of $137.31 and a 1-year high of $241.26. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The firm's 50-day simple moving average is $177.29 and its 200-day simple moving average is $175.53.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS. As a group, equities analysts forecast that CDW will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) is 30.98%.

Insider Buying and Selling

In other news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the firm'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 transaction of $7,423,162.14. Following the sale, the insider directly owned 144,931 shares of the company's stock, 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

Several large investors have recently added to or reduced their stakes in the company. AG2R LA Mondiale Gestion D Actifs acquired a new position in CDW during the first quarter worth about $962,000. eCIO Inc. purchased a new position in CDW in the 1st quarter worth about $93,000. Modern Wealth Management LLC increased its stake in CDW by 9.9% in the 1st quarter. Modern Wealth Management LLC now owns 12,149 shares of the information technology services provider's stock worth $1,947,000 after purchasing an additional 1,091 shares in the last quarter. Jacobi Capital Management LLC increased its stake in CDW by 16.3% in the 1st quarter. Jacobi Capital Management LLC now owns 1,661 shares of the information technology services provider's stock worth $266,000 after purchasing an additional 233 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in CDW in the 1st quarter worth about $31,000. 93.15% of the stock is currently owned by institutional investors.

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.

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