CDW Corporation (NASDAQ:CDW) Stock Has Average Target Price of $150.12

Shares of CDW Corporation (NASDAQ:CDW) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $150.12.

CDW has been the topic of several research reports. Citigroup increased their price objective on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley lifted their target price on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Barclays dropped their price target on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st.

CDW Stock Performance

Shares of CDW opened at $128.30 on Monday. The stock has a market capitalization of $16.04 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.95. The business’s fifty day moving average price is $142.69 and its 200 day moving average price is $131.93. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. CDW has a 12-month low of $97.12 and a 12-month high of $162.47.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping 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 analysts’ expectations of $6.21 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that CDW will post 10.33 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 25th. CDW’s dividend payout ratio is presently 30.29%.

Insiders Place Their Bets

In other CDW news, insider Elizabeth 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 sale, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CDW

Several institutional investors have recently modified their holdings of the company. Hollencrest Capital Management lifted its position in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new position in CDW in the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. bought a new position in CDW in the 2nd quarter worth about $28,000. Community Bank N.A. acquired a new stake in shares of CDW in the second quarter valued at approximately $31,000. Finally, Root Financial Partners LLC increased its stake in shares of CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers plan, acquire, implement and manage information technology through a broad portfolio of hardware, software and cloud-based solutions.

Its offerings include computers, servers, networking equipment, data storage, cybersecurity products, collaboration tools and software. CDW also provides professional and managed services, including cloud adoption, data center modernization, security, virtualization, configuration, technical support and lifecycle management.

Founded in 1984 as Computer Discount Warehouse, the company is headquartered in Vernon Hills, Illinois.