CDW Co. (NASDAQ:CDW) Given Average Recommendation of “Moderate Buy” by Analysts

CDW Co. (NASDAQ:CDW) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $239.33.

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

CDW Trading Up 0.5 %

NASDAQ CDW opened at $199.34 on Wednesday. CDW has a one year low of $168.43 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. The company’s 50-day simple moving average is $182.49 and its two-hundred day simple moving average is $202.62.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

Institutional Trading of CDW

Large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC increased its holdings in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of CDW in the 3rd quarter valued at $172,217,000. Perpetual Ltd acquired a new position in shares of CDW in the 3rd quarter valued at $158,300,000. Finally, Assenagon Asset Management S.A. grew its position in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the period. 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.