Citigroup Cuts CDW (NASDAQ:CDW) Price Target to $148.00

CDW (NASDAQ:CDW) had its price objective reduced by Citigroup from $160.00 to $148.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley lowered shares of CDW from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $177.00 to $141.00 in a report on Tuesday. Raymond James Financial upgraded shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research note on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of CDW in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $171.00.

CDW Trading Up 1.3%

Shares of CDW opened at $129.31 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The stock has a market cap of $16.83 billion, a PE ratio of 16.33, a PEG ratio of 1.66 and a beta of 1.08. CDW has a 1 year low of $124.00 and a 1 year high of $222.92. The stock has a 50 day simple moving average of $139.09 and a 200-day simple moving average of $155.04.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, sell-side analysts predict that CDW will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were given a $0.63 dividend. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date was Tuesday, November 25th. This represents a $2.52 annualized dividend and a yield of 1.9%. CDW’s dividend payout ratio is presently 31.82%.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the transaction, the insider directly owned 28,110 shares in the company, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On CDW

Several large investors have recently made changes to their positions in CDW. Jones Financial Companies Lllp raised its holdings in CDW by 316.0% during the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after purchasing an additional 3,719 shares during the last quarter. Empowered Funds LLC grew its position in shares of CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after buying an additional 216 shares during the period. CX Institutional raised its stake in shares of CDW by 32.7% during the second quarter. CX Institutional now owns 1,208 shares of the information technology services provider’s stock worth $216,000 after buying an additional 298 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of CDW by 39.6% during the second quarter. GAMMA Investing LLC now owns 2,928 shares of the information technology services provider’s stock worth $523,000 after buying an additional 830 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in CDW by 781.3% in the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider’s stock valued at $488,000 after buying an additional 2,422 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.