CDW Corporation (NASDAQ:CDW) Receives $147.00 Consensus Target Price from Brokerages

Shares of CDW Corporation (NASDAQ:CDW) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $150.3750.

CDW has been the subject of a number of research reports. Barclays boosted their price target on CDW from $123.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th.

CDW Stock Performance

NASDAQ:CDW opened at $142.37 on Thursday. The company has a market cap of $17.80 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.89 and a beta of 0.95. The firm’s 50 day moving average is $140.36 and its two-hundred day moving average is $129.72. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $171.55. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 EPS. Analysts expect that CDW will post 10.33 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is currently 30.29%.

Insider Buying and Selling at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CDW. California State Teachers Retirement System grew its position in CDW by 13,221.2% in the second quarter. California State Teachers Retirement System now owns 29,850,699 shares of the information technology services provider’s stock valued at $4,198,202,000 after acquiring an additional 29,626,614 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of CDW during the second quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC acquired a new position in shares of CDW during the second quarter worth $371,135,000. Jupiter Topco LLC acquired a new position in shares of CDW during the second quarter worth $300,073,000. Finally, Bank of America Corp DE purchased a new position in shares of CDW in the second quarter valued at $255,058,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.