CDW (NASDAQ:CDW) Given New $200.00 Price Target at UBS Group

Key Points

• UBS Group has revised its price target for CDW from $210.00 to $200.00 while maintaining a "buy" rating, indicating a potential upside of 23.42% from the current stock price.
• Analysts from other firms have provided mixed assessments, with price targets ranging from $176.00 to $205.00 and an overall average rating of "Hold."
• CDW posted earnings of $2.60 per share for the quarter, exceeding expectations and showing a year-over-year revenue increase of 10.2%.

CDW (NASDAQ:CDW - Get Free Report) had its target price cut by analysts at UBS Group from $210.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the information technology services provider's stock. UBS Group's price target points to a potential upside of 23.42% from the company's current price.

CDW has been the subject of a number of other research reports. Barclays lowered their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday. Citigroup increased their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $202.00.

CDW Stock Performance

Shares of CDW traded down $3.46 during mid-day trading on Thursday, hitting $162.05. 805,339 shares of the company's stock were exchanged, compared to its average volume of 1,330,879. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The business's 50 day moving average is $176.91 and its two-hundred day moving average is $175.33. 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 firm has a market capitalization of $21.34 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.78 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that CDW will post 9.41 earnings per share for the current year.

Insider Transactions at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On CDW

Several hedge funds have recently bought and sold shares of CDW. GW&K Investment Management LLC grew its holdings in shares of CDW by 78.9% during 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 acquiring an additional 75 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of CDW during the 4th quarter valued at about $30,000. Bayforest Capital Ltd bought a new stake in shares of CDW in the 1st quarter valued at approximately $31,000. Pandora Wealth Inc. bought a new position in CDW during the first quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC bought a new stake in CDW in the first quarter worth approximately $34,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

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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