Brokerages Set CDW Corporation (NASDAQ:CDW) Price Target at $140.63

CDW Corporation (NASDAQ:CDW) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $144.1250.

Several brokerages recently weighed in on CDW. Morgan Stanley upgraded CDW from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $142.00 to $170.00 in a research note on Tuesday. UBS Group cut their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Barclays cut their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th.

Insider Buying and Selling at CDW

In related news, Director David W. Nelms bought 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp increased its position in shares of CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after acquiring an additional 3,719 shares during the period. Empowered Funds LLC increased its position in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after acquiring an additional 216 shares during the period. California State Teachers Retirement System increased its position in shares of CDW by 0.6% during the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock worth $40,309,000 after acquiring an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after acquiring an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury increased its position in shares of CDW by 17.7% during the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock worth $7,309,000 after acquiring an additional 6,143 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock opened at $133.49 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. CDW has a twelve month low of $97.12 and a twelve month high of $183.91. The business has a 50-day moving average price of $124.25 and a 200 day moving average price of $127.70. The firm has a market cap of $17.05 billion, a PE ratio of 16.24, a P/E/G ratio of 1.70 and a beta of 1.00.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, meeting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business earned $2.15 EPS. CDW’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts predict that CDW will post 10.21 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 22nd. CDW’s payout ratio is currently 30.66%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.