CDW (NASDAQ:CDW) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CDW (NASDAQ:CDW - Free Report) from an overweight rating to a neutral rating in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has $235.00 price objective on the information technology services provider's stock, down from their prior price objective of $260.00.

A number of other brokerages have also weighed in on CDW. Stifel Nicolaus upped their target price on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their target price on CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, CDW presently has an average rating of "Hold" and an average price target of $250.71.

CDW Price Performance

CDW stock traded up $1.49 during trading on Monday, reaching $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 quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The company's fifty day moving average is $221.50 and its 200-day moving average is $224.54. The company has a market capitalization of $29.37 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. CDW has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business posted $2.43 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that CDW will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW's payout ratio is 30.96%.

Insider Activity

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

Institutional Trading of CDW

Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in shares of CDW in the 2nd quarter worth $35,000. Canoe Financial LP bought a new position in shares of CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the second quarter worth about $40,000. 93.15% of the stock is currently owned by 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.