CDW (NASDAQ:CDW) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• CDW's stock has been given a "hold (c)" rating by Weiss Ratings, while several brokerages have adjusted their target prices, with Barclays reducing it to $176 and Citigroup raising it to $200.
• The company reported a 10.2% increase in revenue to $5.98 billion for the last quarter, surpassing analysts' estimates and showing a slight year-over-year earnings increase.
• Institutional investors hold approximately 93.15% of CDW's stock, indicating strong institutional backing and recent increases in holdings by several hedge funds.

CDW (NASDAQ:CDW - Get Free Report)'s stock had its "hold (c)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on CDW. Barclays dropped their target price on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. UBS Group dropped their target price on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Citigroup raised their target price on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, July 11th. 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 report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $202.00.

CDW Trading Up 1.1%

Shares of NASDAQ CDW traded up $1.67 during midday trading on Wednesday, hitting $156.92. The stock had a trading volume of 1,178,505 shares, compared to its average volume of 1,502,309. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.58 and a beta of 1.01. CDW has a 1-year low of $137.31 and a 1-year high of $226.79. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The company has a fifty day moving average price of $164.28 and a 200 day moving average price of $168.98.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Cardinal Capital Management Inc. boosted its position in CDW by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 72,985 shares of the information technology services provider's stock worth $11,625,000 after acquiring an additional 1,045 shares during the period. GAMMA Investing LLC boosted its position in CDW by 9.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,204 shares of the information technology services provider's stock worth $510,000 after acquiring an additional 276 shares during the period. State of Tennessee Department of Treasury boosted its position in CDW by 17.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider's stock worth $7,309,000 after acquiring an additional 6,143 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider's stock worth $8,819,000 after acquiring an additional 45,950 shares during the period. Finally, California State Teachers Retirement System boosted its position in CDW by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider's stock worth $40,309,000 after acquiring an additional 1,242 shares during the period. Institutional investors and hedge funds 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.

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