CDW (NASDAQ:CDW) Earns Buy Rating from Analysts at Redburn Atlantic

Redburn Atlantic began coverage on shares of CDW (NASDAQ:CDW - Free Report) in a research note released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $230.00 price target on the information technology services provider's stock.

CDW has been the topic of a number of other research reports. Citigroup cut CDW from a "buy" rating to a "neutral" rating and decreased their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $244.63.

CDW Stock Performance

CDW stock traded down $3.14 during mid-day trading on Friday, reaching $177.63. 2,703,341 shares of the stock traded hands, compared to its average volume of 881,100. The business has a 50-day moving average of $214.18 and a two-hundred day moving average of $220.53. The firm has a market capitalization of $23.67 billion, a PE ratio of 22.10, a P/E/G ratio of 5.19 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a 52 week low of $175.94 and a 52 week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $2.60 EPS. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that CDW will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. This is a boost from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio is 30.32%.

Hedge Funds Weigh In On CDW

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of CDW by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 61,206 shares of the information technology services provider's stock valued at $15,695,000 after purchasing an additional 1,149 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of CDW by 6.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider's stock valued at $1,582,000 after acquiring an additional 377 shares during the period. M&G Plc purchased a new position in shares of CDW during the 1st quarter worth approximately $8,528,000. Pinnacle Wealth Planning Services Inc. increased its stake in shares of CDW by 13.6% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,525 shares of the information technology services provider's stock worth $390,000 after purchasing an additional 183 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock worth $4,196,721,000 after acquiring an additional 714,393 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

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.