CDW (NASDAQ:CDW) Stock Price Expected to Rise, Citigroup Analyst Says

CDW (NASDAQ:CDW - Get Free Report) had its target price hoisted by stock analysts at Citigroup from $180.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the information technology services provider's stock. Citigroup's price objective suggests a potential upside of 12.59% from the company's previous close.

Several other equities research analysts also recently commented on the company. Barclays cut their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, UBS Group cut their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $211.57.

CDW Stock Down 1.2%

NASDAQ CDW traded down $2.07 during trading hours on Friday, reaching $177.63. 395,350 shares of the company's stock were exchanged, compared to its average volume of 1,234,998. CDW has a one year low of $137.31 and a one year high of $241.26. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The company's 50-day moving average is $178.83 and its two-hundred day moving average is $175.69. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 54.90% and a net margin of 5.10%. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. On average, analysts forecast that CDW will post 9.41 EPS for the current fiscal year.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider owned 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, the insider owned 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. 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 worth $27,000 after purchasing an additional 75 shares during the period. Orion Capital Management LLC bought a new position in CDW in the fourth quarter valued at about $30,000. Bayforest Capital Ltd bought a new position in CDW in the first quarter valued at about $31,000. Pandora Wealth Inc. bought a new position in CDW in the first quarter valued at about $32,000. Finally, Stone House Investment Management LLC bought a new position in CDW in the first quarter valued at about $34,000. Institutional investors own 93.15% of the company's stock.

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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