Brokerages Set CDW Corporation (NASDAQ:CDW) PT at $208.50

Key Points

• CDW Corporation has received an average rating of "Hold" from six analysts, with four recommending a hold and two a buy.
• Insider Christine A. Leahy sold over 40,000 shares of CDW, decreasing her ownership by 22.02%, while other insiders have also reduced their positions recently.
• The company reported a 6.7% increase in quarterly revenue year-over-year, reaching $5.20 billion, and beat analysts' earnings estimates with an EPS of $2.15.

Shares of CDW Corporation (NASDAQ:CDW - Get Free Report) have received a consensus rating of "Hold" from the six research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $208.50.

A number of research firms have recently weighed in on CDW. Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays lowered their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. UBS Group decreased their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th.

Insider Activity at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction 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 transaction, the insider directly owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. 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 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 directly owned 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CDW. Vanguard Group Inc. lifted its position in shares of CDW by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after buying an additional 72,550 shares during the last quarter. Select Equity Group L.P. increased its position in CDW by 5.6% during the 1st quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider's stock worth $592,311,000 after buying an additional 195,511 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after buying an additional 54,341 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of CDW by 15.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after acquiring an additional 378,841 shares during the period. Finally, Wellington Management Group LLP increased its position in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW traded down $2.24 on Wednesday, reaching $179.94. The company's stock had a trading volume of 854,756 shares, compared to its average volume of 725,264. The stock's 50 day simple moving average is $178.36 and its two-hundred day simple moving average is $175.89. The stock has a market capitalization of $23.69 billion, a P/E ratio of 22.30, a PEG ratio of 3.06 and a beta of 0.93. CDW has a 12-month low of $137.31 and a 12-month high of $231.38. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW's payout ratio is 30.98%.

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.