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

CDW Corporation (NASDAQ:CDW) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three investment 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 objective among brokers that have updated their coverage on the stock in the last year is $150.12.

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

CDW Trading Up 1.6%

Shares of CDW opened at $165.20 on Friday. CDW has a 12-month low of $97.12 and a 12-month high of $166.15. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 2.13 and a beta of 0.95. The stock’s 50-day moving average price is $146.68 and its 200 day moving average price is $133.02.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%. The company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that CDW will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were paid a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. CDW’s dividend payout ratio is currently 30.29%.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction 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. The trade was a 43.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of CDW in the 2nd quarter valued at $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW during the 2nd quarter worth about $371,135,000. Jupiter Topco LLC acquired a new stake in shares of CDW during the 2nd quarter worth about $300,073,000. Alyeska Investment Group L.P. increased its position in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock worth $260,880,000 after purchasing an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in CDW during the 2nd quarter valued at about $255,058,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.