Citigroup Issues Pessimistic Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its price objective lowered by Citigroup from $220.00 to $160.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price objective would indicate a potential upside of 4.97% from the stock’s current price.

A number of other research firms have also issued reports on CDW. Barclays boosted their target price 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. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.88.

CDW Stock Up 2.4 %

CDW stock traded up $3.62 during midday trading on Monday, hitting $152.42. 1,071,317 shares of the stock were exchanged, compared to its average volume of 1,162,768. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a 50 day moving average price of $172.21 and a two-hundred day moving average price of $185.67. The firm has a market cap of $20.19 billion, a P/E ratio of 19.12, a P/E/G ratio of 3.21 and a beta of 0.97. CDW has a 1 year low of $137.31 and a 1 year high of $248.12.

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

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Portside Wealth Group LLC boosted its holdings in CDW by 17.5% in the first quarter. Portside Wealth Group LLC now owns 2,058 shares of the information technology services provider’s stock worth $330,000 after purchasing an additional 306 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of CDW by 55.2% in the first quarter. Park Avenue Securities LLC now owns 2,448 shares of the information technology services provider’s stock valued at $392,000 after purchasing an additional 871 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in CDW by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 121,032 shares of the information technology services provider’s stock valued at $19,397,000 after purchasing an additional 344 shares during the last quarter. Congress Asset Management Co. boosted its stake in CDW by 24.7% in the first quarter. Congress Asset Management Co. now owns 88,651 shares of the information technology services provider’s stock worth $14,207,000 after purchasing an additional 17,586 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of CDW by 40.6% in the first quarter. Vest Financial LLC now owns 2,243 shares of the information technology services provider’s stock worth $359,000 after acquiring an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.