Citigroup Issues Pessimistic Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW - Get Free Report) had its target price dropped by equities researchers at Citigroup from $220.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the information technology services provider's stock. Citigroup's target price would suggest a potential upside of 5.63% from the company's previous close.

Several other research firms have also recently commented on CDW. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.38.

CDW Stock Performance

Shares of CDW traded up $2.70 during mid-day trading on Monday, reaching $151.47. 1,166,889 shares of the company's stock traded hands, compared to its average volume of 1,167,844. CDW has a 12 month low of $137.31 and a 12 month high of $248.12. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $19.96 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business's 50-day moving average price is $167.67 and its 200-day moving average price is $183.44.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities analysts predict that CDW will post 9.41 earnings per share for the current year.

CDW declared that its board has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of CDW

Several hedge funds have recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in CDW during the 4th quarter valued at $30,000. Allworth Financial LP raised its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. grew 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 acquiring an additional 119 shares during the last quarter. 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.