CDW Co. (NASDAQ:CDW) Receives $237.60 Average Price Target from Analysts

Shares of CDW Co. (NASDAQ:CDW - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $238.90.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on CDW from $267.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Barclays upped their target price on CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 8th. Finally, Citigroup upped their price target on CDW from $255.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, April 4th.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in CDW. Raymond James Financial Services Advisors Inc. increased its stake in shares of CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider's stock worth $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider's stock worth $3,620,000 after acquiring an additional 7,310 shares in the last quarter. JGP Wealth Management LLC purchased a new stake in shares of CDW during the fourth quarter worth $1,559,000. California Public Employees Retirement System raised its holdings in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider's stock worth $165,244,000 after acquiring an additional 7,854 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of CDW during the second quarter worth $532,100,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of NASDAQ CDW traded up $0.72 during midday trading on Thursday, hitting $248.00. 658,183 shares of the company's stock were exchanged, compared to its average volume of 704,770. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The stock's 50 day moving average price is $246.98 and its 200-day moving average price is $225.74. The firm has a market cap of $33.28 billion, a P/E ratio of 30.62, a PEG ratio of 2.88 and a beta of 1.09. CDW has a twelve month low of $160.66 and a twelve month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 earnings per share. Equities research analysts anticipate that CDW will post 9.88 EPS for the current year.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's dividend payout ratio (DPR) is currently 30.62%.

CDW Company Profile

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.