Brokerages Set CDW Co. (NASDAQ:CDW) Price Target at $235.50

CDW Co. (NASDAQ:CDW) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $235.50.

Several equities analysts recently issued reports on the company. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group dropped their price objective 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 lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CDW by 0.6% during 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 stake in shares of CDW by 1.1% in the third 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 in the last quarter. Geode Capital Management LLC raised its position 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 valued at $614,220,000 after purchasing an additional 54,341 shares during the period. Wellington Management Group LLP lifted its stake 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 valued at $441,848,000 after buying an additional 574,444 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after buying an additional 524,559 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $164.47 on Thursday. The company has a market capitalization of $21.79 billion, a PE ratio of 20.64, a PEG ratio of 3.21 and a beta of 1.01. The business has a fifty day moving average price of $180.64 and a 200-day moving average price of $190.34. CDW has a 1-year low of $158.76 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. As a group, equities analysts expect that CDW will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.52%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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.