Barclays Cuts CDW (NASDAQ:CDW) Price Target to $148.00

CDW (NASDAQ:CDW) had its target price lowered by Barclays from $150.00 to $148.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the information technology services provider’s stock.

A number of other equities analysts have also commented on CDW. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research note on Wednesday, May 27th. Morgan Stanley increased their price objective on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citigroup raised their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $150.12.

CDW Stock Performance

Shares of CDW stock opened at $146.16 on Monday. The stock has a market capitalization of $18.27 billion, a P/E ratio of 17.57, a PEG ratio of 1.93 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $142.57 and its 200 day moving average is $131.46. CDW has a 12 month low of $97.12 and a 12 month high of $167.00.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating 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 business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the business earned $2.60 EPS. CDW’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that CDW will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. CDW’s dividend payout ratio is presently 30.29%.

Insider Transactions at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in CDW during the second quarter worth about $2,143,082,000. Pzena Investment Management LLC bought a new position in shares of CDW during the 2nd quarter valued at about $371,135,000. Jupiter Topco LLC purchased a new position in shares of CDW during the 2nd quarter valued at about $300,073,000. Bank of America Corp DE bought a new stake in CDW in the 2nd quarter worth approximately $255,058,000. Finally, Alyeska Investment Group L.P. lifted its position in CDW by 197.1% in 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 buying an additional 1,230,517 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

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 design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.