CDW Co. (NASDAQ:CDW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of CDW Co. (NASDAQ:CDW - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $239.33.

A number of equities analysts have issued reports on the stock. UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday. Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Monday, December 16th. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th.

CDW Price Performance

Shares of CDW stock traded up $1.80 during midday trading on Friday, reaching $183.14. 1,784,004 shares of the company traded hands, compared to its average volume of 1,386,084. The firm's 50 day simple moving average is $180.30 and its two-hundred day simple moving average is $206.52. The firm has a market cap of $24.41 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. On average, equities research analysts expect that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. This is a boost from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.37%. CDW's payout ratio is 30.56%.

Hedge Funds Weigh In On CDW

Large investors have recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of CDW during the 2nd quarter worth $35,000. Canoe Financial LP acquired a new stake in CDW during the third quarter worth about $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 133 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of CDW in the 3rd quarter valued at about $43,000. Finally, Covestor Ltd grew its holdings in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after purchasing an additional 109 shares during the period. Hedge funds and other 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.