Brokerages Set CDW Co. (NASDAQ:CDW) Price Target at $239.33

Shares of CDW Co. (NASDAQ:CDW) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $239.33.

Several brokerages recently issued reports on CDW. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley lifted their price target on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Finally, Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st.

CDW Trading Down 1.2 %

CDW stock opened at $180.92 on Friday. CDW has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $180.30 and its 200-day moving average is $206.40. The firm has a market cap of $24.11 billion, a P/E ratio of 22.12, a P/E/G ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that CDW will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Hedge Funds Weigh In On CDW

Several institutional investors and hedge funds have recently made changes to their positions in CDW. Trust Co. of Toledo NA OH increased its stake in CDW by 9.1% during the 4th quarter. Trust Co. of Toledo NA OH now owns 1,787 shares of the information technology services provider’s stock worth $311,000 after purchasing an additional 149 shares in the last quarter. Czech National Bank boosted its holdings in CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after purchasing an additional 1,685 shares during the last quarter. ORG Wealth Partners LLC bought a new position in CDW in the fourth quarter valued at $69,000. Ridgewood Investments LLC acquired a new stake in CDW in the 4th quarter valued at $104,000. Finally, Diversified Trust Co bought a new stake in CDW during the 4th quarter worth about $1,529,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

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.