CDW (NASDAQ:CDW) Given New $232.00 Price Target at Barclays

CDW (NASDAQ:CDW) had its price target trimmed by Barclays from $261.00 to $232.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on CDW. JPMorgan Chase & Co. lifted their price objective on shares of CDW from $267.00 to $280.00 and gave the company an overweight rating in a report on Thursday, April 11th. Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the company a buy rating in a research note on Thursday, April 4th. Finally, Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $235.50.

CDW Stock Up 0.5 %

CDW traded up $1.15 during trading on Thursday, hitting $219.56. The company had a trading volume of 805,670 shares, compared to its average volume of 768,724. The firm’s 50-day moving average price is $245.67 and its 200 day moving average price is $229.16. The company has a market capitalization of $29.51 billion, a PE ratio of 27.41, a PEG ratio of 2.47 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW has a one year low of $162.59 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. CDW’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 earned $2.40 earnings per share. As a group, equities analysts expect that CDW will post 9.89 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. CDW’s dividend payout ratio is presently 30.96%.

Hedge Funds Weigh In On CDW

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after buying an additional 781,421 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in CDW by 4.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after purchasing an additional 64,140 shares during the last quarter. Northern Trust Corp boosted its position in CDW by 1.6% during the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after purchasing an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of CDW by 3.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after purchasing an additional 41,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of CDW by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock valued at $258,196,000 after purchasing an additional 33,235 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

About CDW

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.