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

Key Points

• CDW Corporation has received a consensus rating of "Hold" from seven analysts, with five holding the stock and two assigning a buy rating. The average 12-month price target is $202.00.
• Institutional ownership of CDW is strong, with approximately 93.15% of the stock held by institutional investors, including significant increases from firms like GW&K Investment Management and Golden State Wealth Management.
• CDW recently announced a quarterly dividend of $0.625 per share, representing an annual yield of 1.7%, with a payout ratio of 31.06%.

Shares of CDW Corporation (NASDAQ:CDW - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $202.00.

A number of brokerages have recently issued reports on CDW. Citigroup boosted their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Weiss Ratings reissued a "hold (c)" rating on shares of CDW in a research note on Wednesday, October 8th. UBS Group dropped their price objective on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Barclays dropped their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. GW&K Investment Management LLC increased its position in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Bayforest Capital Ltd bought a new stake in CDW in the 1st quarter valued at about $31,000. Pandora Wealth Inc. bought a new stake in CDW in the 1st quarter valued at about $32,000. Stone House Investment Management LLC bought a new stake in CDW in the 1st quarter valued at about $34,000. Finally, Golden State Wealth Management LLC increased its position in CDW by 237.2% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after buying an additional 185 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 4.4%

Shares of CDW opened at $145.04 on Monday. The company has a market capitalization of $19.01 billion, a PE ratio of 18.02, a PEG ratio of 2.41 and a beta of 1.01. CDW has a 12 month low of $137.31 and a 12 month high of $224.50. The stock's 50-day moving average price is $163.35 and its two-hundred day moving average price is $168.73. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 EPS. On average, analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 25th. CDW's payout ratio is presently 31.06%.

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.

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