CDW (NASDAQ:CDW) Downgraded to "Neutral" at Citigroup

Citigroup lowered shares of CDW (NASDAQ:CDW - Free Report) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $245.00 price target on the information technology services provider's stock, down from their prior price target of $250.00.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Barclays cut their price objective on shares of CDW from $232.00 to $229.00 and set an equal weight rating on the stock in a research report on Thursday, August 1st. Finally, Northcoast Research raised shares of CDW from a neutral rating to a buy rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $252.75.

CDW Stock Down 3.8 %

NASDAQ:CDW traded down $8.49 during mid-day trading on Tuesday, reaching $217.81. The stock had a trading volume of 1,180,730 shares, compared to its average volume of 823,803. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The company has a market capitalization of $29.27 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04. CDW has a 1-year low of $185.04 and a 1-year high of $263.37. The stock's 50 day simple moving average is $221.05 and its two-hundred day simple moving average is $228.88.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. CDW's revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 earnings per share. Equities analysts anticipate that CDW will post 9.4 EPS for the current year.

CDW Dividend Announcement

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

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares of the company's stock, valued at approximately $22,090,530. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Christine A. Leahy bought 1,200 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sona Chawla sold 18,437 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares of the company's stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On CDW

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock valued at $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Wellington Management Group LLP lifted its stake in CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider's stock valued at $787,638,000 after acquiring an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. grew its position in CDW by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider's stock worth $793,410,000 after acquiring an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider's stock worth $366,168,000 after purchasing an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock valued at $289,357,000 after purchasing an additional 128,263 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

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.