CDW Co. (NASDAQ:CDW) Given Average Recommendation of "Moderate Buy" by Analysts

CDW Co. (NASDAQ:CDW - Get Free Report) has received an average rating of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $217.38.

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Citigroup decreased their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

CDW Stock Up 2.1 %

NASDAQ:CDW traded up $3.29 during mid-day trading on Monday, hitting $158.15. The stock had a trading volume of 479,466 shares, compared to its average volume of 1,172,951. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a 50-day simple moving average of $165.45 and a two-hundred day simple moving average of $182.28. The company has a market capitalization of $20.84 billion, a PE ratio of 19.83, a PEG ratio of 3.21 and a beta of 0.97. CDW has a twelve month low of $137.31 and a twelve month high of $248.12.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, equities research analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 31.37%.

Institutional Investors Weigh In On CDW

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in shares of CDW in the fourth quarter worth $30,000. Allworth Financial LP lifted its position in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised 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 valued at $36,000 after buying an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after buying an additional 119 shares during the last quarter. 93.15% of the stock is currently 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.