CDW Corporation (NASDAQ:CDW) Receives $189.86 Average Target Price from Analysts

Shares of CDW Corporation (NASDAQ:CDW) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $189.8571.

A number of equities research analysts have weighed in on CDW shares. UBS Group decreased their price objective on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Evercore ISI cut their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Finally, Barclays reduced their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th.

Hedge Funds Weigh In On CDW

Institutional investors have recently bought and sold shares of the business. Danske Bank A S bought a new stake in shares of CDW during the third quarter worth $13,347,000. Dark Forest Capital Management LP bought a new stake in CDW during the 3rd quarter worth about $313,000. Public Employees Retirement System of Ohio increased its position in CDW by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock valued at $6,546,000 after acquiring an additional 255 shares in the last quarter. Ameriprise Financial Inc. increased its position in CDW by 0.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 150,209 shares of the information technology services provider’s stock valued at $23,924,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of CDW by 7.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 8,044 shares of the information technology services provider’s stock worth $1,281,000 after purchasing an additional 556 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.2%

CDW opened at $146.25 on Tuesday. The company has a market capitalization of $19.04 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.04 and a beta of 1.07. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30. The firm’s fifty day moving average price is $149.55 and its two-hundred day moving average price is $164.48. CDW has a fifty-two week low of $135.63 and a fifty-two week high of $222.92.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. On average, analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, November 25th. CDW’s dividend payout ratio (DPR) is presently 31.82%.

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.