JPMorgan Chase & Co. Cuts CDW (NASDAQ:CDW) Price Target to $130.00

CDW (NASDAQ:CDW) had its price objective decreased by JPMorgan Chase & Co. from $160.00 to $130.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the information technology services provider’s stock.

Other equities analysts have also issued research reports about the stock. Evercore reiterated an “outperform” rating and set a $180.00 price objective on shares of CDW in a research report on Tuesday, January 20th. Morgan Stanley boosted their target price on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Barclays decreased their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday. Raymond James Financial set a $150.00 price target on CDW in a research report on Wednesday. Finally, UBS Group reduced their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.14.

CDW Stock Down 4.9%

Shares of CDW opened at $104.79 on Thursday. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04. CDW has a 1 year low of $104.41 and a 1 year high of $192.30. The business’s 50 day simple moving average is $125.02 and its 200-day simple moving average is $134.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.10.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $5.48 billion. During the same period in the prior year, the company earned $2.15 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that CDW will post 10.01 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. CDW’s payout ratio is currently 31.15%.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp boosted 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 valued at $785,000 after buying an additional 3,719 shares during the period. Empowered Funds LLC raised its holdings in shares of CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after buying an additional 216 shares during the period. California State Teachers Retirement System raised its holdings in shares of CDW by 0.6% in 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 buying an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of CDW by 1,339.7% during the 2nd 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 last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in shares of CDW by 17.7% during the 2nd 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 last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting CDW

Here are the key news stories impacting CDW this week:

• Positive Sentiment: CDW reported Q1 EPS of $2.28, matching estimates, while revenue of $5.68 billion topped expectations and rose 9.2% year over year; management also highlighted its “Geared for Growth” and AI-first initiatives, which could support margin improvement and up to $200 million in cost savings. Article Title
• Positive Sentiment: JPMorgan still sees upside from current levels despite lowering its target to $130, and several other recent price targets remain above the stock price, suggesting analysts have not turned outright bearish. Article Title
• Neutral Sentiment: Technical commentary says CDW is in oversold territory, which could support a bounce if selling pressure fades, but this is more of a trading signal than a fundamental catalyst. Article Title
• Negative Sentiment: Despite the revenue beat, the market punished the stock sharply after earnings, indicating investors were disappointed by the broader outlook or not convinced the growth story is enough to re-rate the shares. Article Title
• Negative Sentiment: JPMorgan cut its price target from $160 to $130 and maintained only a neutral rating, reinforcing a more cautious view on near-term upside. Article Title

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.