CDW Corporation (NASDAQ:CDW) Receives $196.29 Consensus Target Price from Brokerages

Shares of CDW Corporation (NASDAQ:CDW) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $196.2857.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Barclays cut their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI reduced their target price on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. UBS Group dropped their price target on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th.

Institutional Trading of CDW

A number of hedge funds have recently modified their holdings of CDW. Jump Financial LLC grew its holdings in CDW by 182.3% during the third quarter. Jump Financial LLC now owns 21,563 shares of the information technology services provider’s stock worth $3,435,000 after acquiring an additional 13,926 shares during the period. Marshall Wace LLP boosted its position in CDW by 255.7% in the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after purchasing an additional 430,796 shares in the last quarter. Entropy Technologies LP grew its stake in shares of CDW by 1,094.3% during the 3rd quarter. Entropy Technologies LP now owns 22,370 shares of the information technology services provider’s stock worth $3,563,000 after purchasing an additional 20,497 shares during the period. Van ECK Associates Corp grew its stake in shares of CDW by 2.0% during the 3rd quarter. Van ECK Associates Corp now owns 25,412 shares of the information technology services provider’s stock worth $4,048,000 after purchasing an additional 510 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of CDW by 18.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 111,267 shares of the information technology services provider’s stock valued at $17,782,000 after purchasing an additional 17,132 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $146.75 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The company has a market capitalization of $19.11 billion, a PE ratio of 18.53, a P/E/G ratio of 2.05 and a beta of 1.03. The company has a 50 day moving average price of $156.70 and a 200-day moving average price of $168.30. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $222.92.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. As a group, equities analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.52 annualized dividend and a yield of 1.7%. This is an increase from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is 31.57%.

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.