Analysts Set CDW Corporation (NASDAQ:CDW) Price Target at $160.43

CDW Corporation (NASDAQ:CDW) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $160.4286.

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Citigroup lifted their target price on shares of CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Barclays decreased their target price on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, UBS Group dropped their price target on shares of CDW from $190.00 to $162.00 and set a “buy” rating for the company in a research note on Thursday, February 5th.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in shares of CDW during the 3rd quarter worth $26,000. Quent Capital LLC purchased a new stake in CDW in the 3rd quarter valued at about $57,000. eCIO Inc. purchased a new stake in CDW in the 4th quarter valued at about $61,000. Covestor Ltd lifted its position in CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 226 shares during the last quarter. Finally, American National Bank & Trust acquired a new position in CDW in the fourth quarter valued at about $110,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $118.20 on Thursday. CDW has a 1 year low of $112.98 and a 1 year high of $192.30. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. The firm has a market capitalization of $15.25 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The business has a 50 day simple moving average of $127.65 and a 200-day simple moving average of $142.86.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.13. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.33 billion. CDW had a return on equity of 50.66% and a net margin of 4.76%.The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.48 earnings per share. Equities research analysts anticipate that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, February 25th. CDW’s dividend payout ratio is presently 31.15%.

About CDW

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.