CDW (NASDAQ:CDW) Hits New 12-Month High – What’s Next?

Shares of CDW Corporation (NASDAQ:CDW) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $173.47 and last traded at $173.6480, with a volume of 61,787 shares changing hands. The stock had previously closed at $169.36.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDW shares. Citigroup increased their target price on CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. UBS Group lifted their price target on CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price target on CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Morgan Stanley boosted their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Barclays dropped their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.38.

CDW Stock Performance

The business’s fifty day moving average price is $149.42 and its 200-day moving average price is $134.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.26 and a quick ratio of 1.15. The stock has a market capitalization of $21.61 billion, a PE ratio of 20.15, a P/E/G ratio of 1.46 and a beta of 0.92.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $3.26 EPS for the quarter, beating the consensus estimate of $2.98 by $0.28. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. CDW’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.71 earnings per share. As a group, equities research analysts expect that CDW Corporation will post 10.33 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.68 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $2.72 annualized dividend and a yield of 1.6%. This is a boost from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio is currently 29.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of CDW by 1,962.5% in the third quarter. Colonial Trust Co SC now owns 1,485 shares of the information technology services provider’s stock worth $190,000 after buying an additional 1,413 shares in the last quarter. Boston Partners boosted its stake in CDW by 8.1% during the third quarter. Boston Partners now owns 5,680,330 shares of the information technology services provider’s stock valued at $728,186,000 after buying an additional 423,520 shares during the period. TD Capital Management LLC grew its position in CDW by 2,541.7% during the third quarter. TD Capital Management LLC now owns 317 shares of the information technology services provider’s stock worth $41,000 after buying an additional 305 shares in the last quarter. Global Retirement Partners LLC grew its position in CDW by 86.6% during the third quarter. Global Retirement Partners LLC now owns 3,264 shares of the information technology services provider’s stock worth $418,000 after buying an additional 1,515 shares in the last quarter. Finally, South Dakota Investment Council grew its position in CDW by 126.4% during the third quarter. South Dakota Investment Council now owns 494,980 shares of the information technology services provider’s stock worth $63,437,000 after buying an additional 276,348 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

About CDW

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.