Stifel Nicolaus Trims CDW (NASDAQ:CDW) Target Price to $250.00

CDW (NASDAQ:CDW) had its target price cut by research analysts at Stifel Nicolaus from $265.00 to $250.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 15.09% from the stock’s previous close.

CDW has been the topic of a number of other research reports. Citigroup lifted their price objective on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. reduced their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday. Evercore ISI raised their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.00.

CDW Stock Up 1.2 %

NASDAQ CDW traded up $2.61 on Thursday, reaching $217.22. 689,357 shares of the stock traded hands, compared to its average volume of 714,075. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The company has a fifty day moving average price of $246.81 and a 200-day moving average price of $229.16. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 2.74 and a beta of 1.09. CDW has a 12 month low of $162.59 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.40 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts forecast that CDW will post 9.89 EPS for the current fiscal year.

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On CDW

Several hedge funds have recently added to or reduced their stakes in CDW. OFI Invest Asset Management acquired a new position in shares of CDW during the 3rd quarter worth about $25,000. Tsfg LLC purchased a new position in shares of CDW during the 1st quarter worth approximately $26,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC purchased a new position in CDW in the 4th quarter valued at approximately $30,000. Finally, Rise Advisors LLC purchased a new position in CDW in the 1st quarter valued at approximately $34,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

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.