CDW Corporation (NASDAQ:CDW) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CDW Corporation (NASDAQ:CDW) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $144.1250.

CDW has been the subject of several research reports. Citigroup dropped their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, May 8th. UBS Group dropped their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Finally, Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $142.00 to $170.00 in a report on Tuesday.

Insiders Place Their Bets

In related news, Director David W. Nelms acquired 18,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CDW

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management raised its holdings in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 200 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares in the last quarter. eCIO Inc. acquired a new position in shares of CDW during the 4th quarter worth $61,000. Covestor Ltd raised its holdings in shares of CDW by 53.4% during the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after buying an additional 258 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in shares of CDW during the 4th quarter worth $110,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ:CDW opened at $130.22 on Friday. The stock has a market cap of $16.64 billion, a P/E ratio of 15.84, a PEG ratio of 1.73 and a beta of 1.00. The stock has a 50 day simple moving average of $124.22 and a 200 day simple moving average of $127.79. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. CDW has a 1-year low of $97.12 and a 1-year high of $183.91.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.15 EPS. Research analysts anticipate that CDW will post 10.17 earnings per share for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a yield of 1.9%. CDW’s payout ratio is currently 30.66%.

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.