Brokerages Set CDW Co. (NASDAQ:CDW) Target Price at $241.75

Shares of CDW Co. (NASDAQ:CDW - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $241.75.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Monday. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective for the company. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th.

Institutional Investors Weigh In On CDW

Several large investors have recently modified their holdings of CDW. Oddo BHF Asset Management Sas acquired a new position in CDW in the 3rd quarter worth $1,629,000. Franklin Resources Inc. lifted its stake in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock valued at $24,138,000 after acquiring an additional 3,567 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CDW during the third quarter worth $973,000. Sanctuary Advisors LLC boosted its stake in shares of CDW by 5.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider's stock worth $1,260,000 after buying an additional 265 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in shares of CDW by 18.6% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider's stock worth $572,000 after purchasing an additional 397 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.6 %

CDW stock traded down $1.13 during mid-day trading on Tuesday, hitting $176.66. 1,443,153 shares of the company's stock were exchanged, compared to its average volume of 927,932. CDW has a 1-year low of $172.95 and a 1-year high of $263.37. The stock has a 50 day moving average of $195.27 and a two-hundred day moving average of $213.06. The stock has a market cap of $23.54 billion, a P/E ratio of 21.60, a P/E/G ratio of 5.01 and a beta of 1.02. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business earned $2.60 EPS. The business's revenue was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.625 per share. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.42%. CDW's dividend payout ratio (DPR) is presently 30.56%.

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.