CDW Corporation (NASDAQ:CDW) Given Average Rating of “Moderate Buy” by Analysts

Shares of CDW Corporation (NASDAQ:CDW) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $147.00.

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group decreased their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Citigroup increased their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price target for the company in a report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 price target on shares of CDW in a report on Wednesday, May 6th.

Insider Transactions at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Nelms acquired 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This represents a 54.50% increase in their position. The SEC filing for this purchase provides additional information. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently bought and sold shares of CDW. Root Financial Partners LLC increased its holdings in shares of CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares during the last quarter. New Mexico Educational Retirement Board grew its position in CDW by 1.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after acquiring an additional 100 shares in the last quarter. Hollencrest Capital Management grew its position in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Allied Private Wealth LLC bought a new position in CDW in the second quarter valued at $28,000. Finally, Keating Financial Advisory Services Inc. bought a new position in CDW in the second quarter valued at $28,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $142.05 on Friday. CDW has a 52-week low of $97.12 and a 52-week high of $171.55. The stock’s 50-day simple moving average is $135.85 and its 200 day simple moving average is $127.97. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts forecast that CDW will post 10.21 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s payout ratio is presently 30.29%.

About CDW

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.