Weiss Ratings Reaffirms “Hold (C-)” Rating for CDW (NASDAQ:CDW)

CDW (NASDAQ:CDW)‘s stock had its “hold (c-)” rating restated by equities researchers at Weiss Ratings in a note issued to investors on Thursday,Weiss Ratings reports.

Several other research firms have also recently commented on CDW. JPMorgan Chase & Co. increased their target price on CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. UBS Group dropped their price target on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Citigroup upped their price target on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Evercore ISI dropped their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Barclays dropped their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.71.

CDW Stock Performance

CDW stock opened at $159.37 on Thursday. The stock has a market cap of $20.89 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 2.60 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The stock has a 50 day moving average of $160.21 and a 200-day moving average of $168.77. CDW has a 52 week low of $137.31 and a 52 week high of $222.92.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. On average, analysts expect that CDW will post 9.41 EPS for the current fiscal year.

Institutional Investors Weigh In On CDW

Several large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its position in CDW by 8.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,904 shares of the information technology services provider’s stock worth $14,638,000 after buying an additional 7,548 shares during the period. Covestor Ltd increased its holdings 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 purchasing an additional 226 shares during the period. Root Financial Partners LLC acquired a new position in shares of CDW during the third quarter valued at $26,000. Allstate Corp acquired a new position in shares of CDW during the third quarter valued at $823,000. Finally, Quent Capital LLC acquired a new position in shares of CDW during the third quarter valued at $57,000. 93.15% of the stock is owned by institutional investors and hedge funds.

About CDW

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.