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

CDW Co. (NASDAQ:CDW - Get Free Report) has been assigned an average recommendation of "Hold" from the seven analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $250.71.

Several research firms have weighed in on CDW. 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. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Barclays decreased their price objective on CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Finally, Citigroup cut CDW from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the business's stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now owns 102,200 shares in the company, valued at $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On CDW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Vanguard Group Inc. grew its stake in CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock worth $4,196,721,000 after purchasing an additional 714,393 shares during the period. Perpetual Ltd purchased a new stake in shares of CDW in the third quarter worth $158,300,000. Lazard Asset Management LLC grew its stake in shares of CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock worth $225,491,000 after acquiring an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of CDW in the second quarter worth $79,549,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of CDW by 2,045.4% in the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider's stock worth $65,877,000 after acquiring an additional 280,584 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW traded up $1.49 on Monday, hitting $218.50. The company's stock had a trading volume of 1,216,673 shares, compared to its average volume of 816,723. The company has a 50-day simple moving average of $221.49 and a 200 day simple moving average of $224.33. CDW has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a market capitalization of $29.37 billion, a PE ratio of 27.28, a PEG ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the previous year, the business earned $2.43 EPS. The business's revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that CDW will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. CDW's dividend payout ratio (DPR) is currently 30.96%.

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.