CDW Co. (NASDAQ:CDW - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $263.37 and last traded at $261.34, with a volume of 71548 shares changing hands. The stock had previously closed at $255.76.
Wall Street Analyst Weigh In
CDW has been the topic of a number of research reports. Morgan Stanley lowered shares of CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price target on the stock. in a research note on Tuesday, December 12th. JPMorgan Chase & Co. upped their price target on shares of CDW from $253.00 to $267.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Evercore ISI upped their price target on shares of CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. Barclays boosted their price objective on shares of CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a report on Thursday, February 8th. Finally, Citigroup boosted their price objective on shares of CDW from $255.00 to $295.00 and gave the company a "buy" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.
Read Our Latest Analysis on CDW
CDW Price Performance
The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The firm has a market cap of $33.89 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The company's 50-day moving average is $244.72 and its 200-day moving average is $224.20.
CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Equities research analysts predict that CDW Co. will post 9.88 earnings per share for the current year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.98%. CDW's dividend payout ratio is currently 30.62%.
CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Hedge Funds Weigh In On CDW
Several large investors have recently modified their holdings of the business. Boltwood Capital Management raised its stake in CDW by 3.2% during the first quarter. Boltwood Capital Management now owns 1,777 shares of the information technology services provider's stock worth $455,000 after buying an additional 55 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in CDW during the first quarter worth $276,000. Kapitalo Investimentos Ltda bought a new position in CDW during the fourth quarter worth $515,000. Nomura Holdings Inc. bought a new position in CDW during the fourth quarter worth $611,000. Finally, HighPoint Advisor Group LLC bought a new position in CDW during the fourth quarter worth $592,000. Institutional investors own 93.15% of the company's stock.
CDW Company Profile
(
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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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