UBS Group Cuts CDW (NASDAQ:CDW) Price Target to $220.00

CDW (NASDAQ:CDW - Free Report) had its price target decreased by UBS Group from $233.00 to $220.00 in a report published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the information technology services provider's stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the company an "equal weight" rating in a research note on Monday, December 16th. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target on the stock. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.33.

CDW Stock Performance

Shares of CDW traded up $1.69 during mid-day trading on Tuesday, hitting $180.98. The stock had a trading volume of 1,626,068 shares, compared to its average volume of 1,272,219. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The business has a fifty day moving average price of $180.81 and a 200-day moving average price of $207.34. The firm has a market cap of $24.12 billion, a P/E ratio of 22.12, a PEG ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. On average, equities research analysts expect that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW's payout ratio is presently 30.56%.

Hedge Funds Weigh In On CDW

A number of large investors have recently added to or reduced their stakes in CDW. Diversified Trust Co purchased a new stake in shares of CDW during the fourth quarter valued at approximately $1,529,000. Fortem Financial Group LLC boosted its position in CDW by 5.8% during the 4th quarter. Fortem Financial Group LLC now owns 4,960 shares of the information technology services provider's stock valued at $863,000 after buying an additional 270 shares during the period. Insight Wealth Strategies LLC boosted its position in CDW by 13.0% during the 4th quarter. Insight Wealth Strategies LLC now owns 19,772 shares of the information technology services provider's stock valued at $3,441,000 after buying an additional 2,275 shares during the period. Pensionfund Sabic grew its holdings in CDW by 28.7% in the 4th quarter. Pensionfund Sabic now owns 6,725 shares of the information technology services provider's stock worth $1,170,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of CDW by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 11,260 shares of the information technology services provider's stock valued at $1,967,000 after acquiring an additional 395 shares during the period. Hedge funds and other institutional investors 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.