CDW Corporation (NASDAQ:CDW) Receives $147.00 Average PT from Brokerages

CDW Corporation (NASDAQ:CDW) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $147.00.

CDW has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. Morgan Stanley increased their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Raymond James Financial set a $150.00 price target on CDW in a research report on Wednesday, May 6th. UBS Group reduced their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Barclays reduced their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th.

Insider Activity at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David W. Nelms acquired 18,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the purchase, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On CDW

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of CDW during the 2nd quarter worth about $2,143,082,000. Pzena Investment Management LLC bought a new position in CDW during the 2nd quarter valued at about $371,135,000. Fenimore Asset Management Inc raised its position in CDW by 0.8% in the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after purchasing an additional 9,485 shares during the period. Deutsche Bank AG purchased a new stake in CDW in the 2nd quarter worth about $112,488,000. Finally, Marshall Wace LLP lifted its stake in CDW by 255.7% in the third 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 during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.8%

Shares of CDW opened at $135.37 on Friday. The company’s fifty day moving average is $135.81 and its 200 day moving average is $127.81. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $171.55. The stock has a market capitalization of $16.92 billion, a PE ratio of 16.27, a P/E/G ratio of 1.81 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. CDW’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts expect that CDW will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW’s payout ratio is 30.29%.

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.