CDW (NASDAQ:CDW) Price Target Cut to $200.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for CDW (NASDAQ:CDW) from $215.00 to $200.00, while maintaining an "outperform" rating, indicating a potential upside of 28.98% from the current stock price.
• Several other analysts have issued mixed ratings on CDW, with price targets ranging from $176.00 to $205.00, reflecting varied expectations regarding the stock's performance.
• CDW recently reported quarterly earnings of $2.60 EPS, exceeding estimates of $2.49, and its quarterly revenue increased by 10.2% year-over-year to $5.98 billion.

CDW (NASDAQ:CDW - Get Free Report) had its price target cut by investment analysts at Evercore ISI from $215.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the information technology services provider's stock. Evercore ISI's price target points to a potential upside of 28.98% from the stock's current price.

A number of other analysts also recently issued reports on the company. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Weiss Ratings reissued a "hold (c)" rating on shares of CDW in a research report on Wednesday, October 8th. Barclays cut their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, UBS Group cut their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $201.71.

CDW Trading Up 1.7%

Shares of NASDAQ CDW traded up $2.62 during trading on Monday, hitting $155.07. 417,842 shares of the company were exchanged, compared to its average volume of 1,328,567. CDW has a 12-month low of $137.31 and a 12-month high of $222.92. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The company has a fifty day moving average price of $161.80 and a 200-day moving average price of $168.38. The firm has a market capitalization of $20.32 billion, a PE ratio of 19.26, a P/E/G ratio of 2.53 and a beta of 1.01.

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

Institutional Trading of CDW

Several hedge funds have recently added to or reduced their stakes in the business. GW&K Investment Management LLC increased its position in shares of CDW by 78.9% in the first 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 during the period. Bayforest Capital Ltd purchased a new position in shares of CDW in the first quarter valued at about $31,000. Pandora Wealth Inc. purchased a new position in shares of CDW in the first quarter valued at about $32,000. Stone House Investment Management LLC purchased a new position in shares of CDW in the first quarter valued at about $34,000. Finally, Golden State Wealth Management LLC increased its position in shares of CDW by 237.2% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 185 shares during the period. 93.15% of the stock is owned by 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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