Analysts Set CDW Corporation (NASDAQ:CDW) PT at $160.43

Shares of CDW Corporation (NASDAQ:CDW) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation 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.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Citigroup boosted their target price on shares of CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Barclays lowered their target price on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Evercore restated an “outperform” rating and issued a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th.

CDW Stock Performance

Shares of NASDAQ CDW opened at $136.80 on Friday. The company has a market cap of $17.51 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.04. CDW has a 12 month low of $112.98 and a 12 month 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 company has a 50-day simple moving average of $125.61 and a 200-day simple moving average of $134.85.

CDW (NASDAQ:CDW) last issued its quarterly earnings results 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 business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 earnings per share. On average, equities analysts anticipate that CDW will post 10.01 earnings per share for the current year.

Institutional Investors Weigh In On CDW

A number of institutional investors have recently bought and sold shares of the stock. Fenimore Asset Management Inc grew its holdings in CDW by 0.8% in the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after purchasing an additional 9,485 shares during the period. Marshall Wace LLP lifted its position in CDW by 255.7% during the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after buying an additional 430,796 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in CDW by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,345 shares of the information technology services provider’s stock valued at $58,192,000 after buying an additional 1,793 shares in the last quarter. BNP Paribas Financial Markets lifted its position in CDW by 20.5% during the fourth quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after buying an additional 48,547 shares in the last quarter. Finally, Local Pensions Partnership Investment Ltd lifted its position in CDW by 7.8% during the fourth quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock valued at $33,940,000 after buying an additional 18,000 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.