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

CDW Co. (NASDAQ:CDW) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $242.67.

A number of equities research analysts have issued reports on the stock. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the period. State Street Corp increased its holdings in shares of CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC increased its holdings in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock worth $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP increased its holdings in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after purchasing an additional 574,444 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after purchasing an additional 524,559 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 0.7 %

Shares of NASDAQ:CDW opened at $168.37 on Friday. The firm has a fifty day moving average of $186.22 and a two-hundred day moving average of $197.19. The firm has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW has a 12-month low of $164.98 and a 12-month high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts expect that CDW will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.48%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.