JPMorgan Chase & Co. Lowers CDW (NASDAQ:CDW) Price Target to $175.00

CDW (NASDAQ:CDW - Free Report) had its price target decreased by JPMorgan Chase & Co. from $222.00 to $175.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the information technology services provider's stock.

A number of other brokerages have also recently weighed in on CDW. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Citigroup decreased their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Stock Performance

CDW traded up $2.11 during trading on Thursday, reaching $150.53. 300,697 shares of the company's stock were exchanged, compared to its average volume of 1,168,009. The company has a market capitalization of $19.84 billion, a P/E ratio of 18.89, a PEG ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average price of $166.86 and a 200 day moving average price of $182.68. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, analysts predict that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.66%. CDW's payout ratio is 31.37%.

CDW announced that its board has initiated a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CDW. Vanguard Group Inc. grew its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC lifted its position in CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after buying an additional 574,444 shares during the last quarter. Invesco Ltd. raised its holdings in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after acquiring an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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.