CDW (NASDAQ:CDW) Given New $223.00 Price Target at Barclays

CDW (NASDAQ:CDW - Get Free Report) had its price target upped by Barclays from $201.00 to $223.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the information technology services provider's stock. Barclays's price objective points to a potential upside of 16.47% from the stock's previous close.

A number of other analysts also recently weighed in on the company. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $242.67.

CDW Price Performance

Shares of NASDAQ:CDW traded down $0.55 during trading on Thursday, reaching $191.47. The company had a trading volume of 824,278 shares, compared to its average volume of 1,445,399. The company has a fifty day moving average of $183.86 and a two-hundred day moving average of $201.96. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $25.52 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. CDW has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities research analysts forecast that CDW will post 9.35 earnings per share for the current year.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP purchased a new stake in CDW in the third quarter worth about $37,000. Finally, Fortitude Family Office LLC increased its stake in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Institutional investors 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.