CDW (NASDAQ:CDW) Given New $176.00 Price Target at Barclays

Key Points

• Barclays has lowered CDW's price target from $205.00 to $176.00, maintaining an "equal weight" rating and indicating a potential upside of 6.59% based on the previous close.
• CDW reported a quarterly earning of $2.60 EPS, surpassing expectations, with a revenue of $5.98 billion, which is a 10.2% increase from the same quarter last year.
• The current consensus rating for CDW is "Hold," with an average price target of $203.67, as rated by multiple analysts.

CDW (NASDAQ:CDW - Get Free Report) had its target price decreased by analysts at Barclays from $205.00 to $176.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the information technology services provider's stock. Barclays's target price suggests a potential upside of 6.59% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, UBS Group decreased their price target 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $203.67.

CDW Stock Performance

Shares of CDW stock opened at $165.13 on Thursday. The company has a 50 day moving average of $176.91 and a 200-day moving average of $175.33. CDW has a 1-year low of $137.31 and a 1-year high of $231.38. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The company has a market cap of $21.74 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 EPS. As a group, equities research analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

Insider Buying and Selling at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. boosted its stake in shares of CDW by 50.5% in the 4th quarter. Wedbush Securities Inc. now owns 2,047 shares of the information technology services provider's stock valued at $356,000 after purchasing an additional 687 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in CDW by 11.8% during the 4th quarter. Russell Investments Group Ltd. now owns 70,623 shares of the information technology services provider's stock valued at $12,276,000 after buying an additional 7,469 shares during the last quarter. Federated Hermes Inc. raised its holdings in CDW by 23.7% in the 4th quarter. Federated Hermes Inc. now owns 1,092 shares of the information technology services provider's stock worth $190,000 after purchasing an additional 209 shares in the last quarter. Bank of Montreal Can raised its holdings in CDW by 2.0% in the 4th quarter. Bank of Montreal Can now owns 167,227 shares of the information technology services provider's stock worth $29,104,000 after purchasing an additional 3,344 shares in the last quarter. Finally, FIL Ltd grew its position in shares of CDW by 44.9% in the 4th quarter. FIL Ltd now owns 216,625 shares of the information technology services provider's stock worth $37,701,000 after buying an additional 67,078 shares during the period. Hedge funds and other institutional investors 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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