CDW Corporation (NASDAQ:CDW) Receives $202.00 Average PT from Brokerages

Key Points

• CDW Corporation has received a consensus rating of "Hold" from analysts, with four hold ratings and two buy ratings among six firms covering the stock.
• The company recently reported earnings of $2.60 per share, exceeding analysts' expectations, and its quarterly revenue increased by 10.2% year-over-year to $5.98 billion.
• CDW announced a quarterly dividend of $0.625 per share, representing an annualized dividend yield of 1.5%.

CDW Corporation (NASDAQ:CDW - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $202.00.

Several brokerages have recently commented on CDW. UBS Group reduced their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Barclays decreased their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Citigroup lifted their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. 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 report on Thursday, July 17th.

CDW Stock Down 1.0%

CDW traded down $1.65 during midday trading on Thursday, hitting $161.22. 2,889,617 shares of the company's stock traded hands, compared to its average volume of 1,332,681. The company has a market cap of $21.13 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98. The stock's fifty day simple moving average is $169.35 and its 200-day simple moving average is $169.73. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. CDW has a one year low of $137.31 and a one year high of $230.86.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.6%. CDW's dividend payout ratio is 31.06%.

Institutional Investors Weigh In On CDW

A number of large investors have recently made changes to their positions in CDW. Vestcor Inc grew its stake in CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after buying an additional 71 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after buying an additional 72 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of 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 during the period. Benin Management CORP lifted its holdings in shares of CDW by 2.5% in the 1st quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock valued at $521,000 after buying an additional 80 shares during the period. Finally, GAMMA Investing LLC raised its holdings in CDW by 4.0% in the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after purchasing an additional 81 shares during the period. 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.