CDW Corporation (NASDAQ:CDW) Receives $142.14 Consensus Target Price from Brokerages

Shares of CDW Corporation (NASDAQ:CDW) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $140.6250.

A number of equities research analysts recently commented on CDW shares. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings downgraded CDW from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Citigroup decreased their price objective on CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, UBS Group decreased their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th.

Insider Activity at CDW

In other CDW news, Director David W. Nelms bought 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the purchase, the director owned 51,025 shares in the company, valued at $5,685,715.75. This represents a 54.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in shares of CDW during the third quarter valued at approximately $26,000. Hollencrest Capital Management grew its stake in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. eCIO Inc. bought a new position in shares of CDW during the fourth quarter valued at approximately $61,000. Covestor Ltd grew its stake in shares of CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 226 shares during the last quarter. Finally, American National Bank & Trust bought a new position in shares of CDW during the fourth quarter valued at approximately $110,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $140.98 on Tuesday. The stock has a 50-day simple moving average of $121.20 and a two-hundred day simple moving average of $129.14. CDW has a 52-week low of $97.12 and a 52-week high of $183.91. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. The firm has a market capitalization of $18.01 billion, a PE ratio of 17.15, a P/E/G ratio of 1.68 and a beta of 1.00.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.CDW’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.15 earnings per share. Analysts forecast that CDW will post 10.08 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. CDW’s dividend payout ratio is currently 30.66%.

About CDW

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.