Analysts Set CDW Corporation (NASDAQ:CDW) PT at $147.00

Shares of CDW Corporation (NASDAQ:CDW) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $147.00.

Several research firms have issued reports on CDW. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Citigroup lifted their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Finally, Barclays reduced their target price on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th.

CDW Stock Performance

NASDAQ:CDW opened at $139.42 on Friday. The company has a 50-day moving average of $135.98 and a 200-day moving average of $128.05. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW has a twelve month low of $97.12 and a twelve month high of $171.55.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. Analysts forecast that CDW will post 10.28 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s payout ratio is presently 30.29%.

Insider Transactions at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David W. Nelms purchased 18,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Hollencrest Capital Management raised its stake in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Allied Private Wealth LLC acquired a new stake in shares of CDW in the second quarter worth $28,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of CDW in the second quarter worth $28,000. Root Financial Partners LLC grew its holdings in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 93 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of CDW during the second quarter valued at $51,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

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.