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

by · The Markets Daily

CDW Corporation (NASDAQ:CDW – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $150.12.

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

View Our Latest Stock Report on CDW

Insider Buying and Selling

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the 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 completion of the sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This 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 hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock worth $38,812,000 after purchasing an additional 48,547 shares in the last quarter. Kendall Capital Management purchased a new stake in CDW during the 2nd quarter worth approximately $3,584,000. Man Group plc acquired a new position in CDW during the 2nd quarter valued at approximately $1,262,000. Pzena Investment Management LLC acquired a new position in CDW during the 2nd quarter valued at approximately $371,135,000. Finally, Jupiter Topco LLC purchased a new position in shares of CDW in the second quarter worth $300,073,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $133.29 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.75 and a beta of 0.95. The firm’s 50-day moving average is $142.79 and its two-hundred day moving average is $132.18. CDW has a 1 year low of $97.12 and a 1 year high of $162.47.

CDW (NASDAQ:CDW – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts expect that CDW will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

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

CDW Company Profile

(Get Free Report)

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.

Further Reading