JPMorgan Chase & Co. Issues Pessimistic Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its price objective lowered by JPMorgan Chase & Co. from $222.00 to $175.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

Several other equities analysts have also commented on the company. Morgan Stanley increased their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.38.

CDW Trading Up 1.8 %

CDW stock opened at $151.47 on Thursday. The stock has a market cap of $19.96 billion, a P/E ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. CDW has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The firm’s fifty day moving average price is $168.47 and its 200-day moving average price is $184.14. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities research analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of CDW

Institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the period. Fulcrum Equity Management raised its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.