CDW (NASDAQ:CDW) Price Target Lowered to $250.00 at Stifel Nicolaus

CDW (NASDAQ:CDW) had its target price trimmed by Stifel Nicolaus from $265.00 to $250.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

CDW has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their target price on CDW from $280.00 to $265.00 and set an overweight rating on the stock in a research report on Thursday. Citigroup increased their target price on CDW from $255.00 to $295.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Barclays reduced their price objective on shares of CDW from $261.00 to $232.00 and set an equal weight rating for the company in a research note on Thursday. Finally, Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the company an outperform rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $235.50.

CDW Trading Up 0.5 %

NASDAQ:CDW traded up $1.15 on Thursday, reaching $219.56. The company’s stock had a trading volume of 805,670 shares, compared to its average volume of 768,724. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW has a 12-month low of $162.59 and a 12-month high of $263.37. The stock has a 50 day moving average price of $245.67 and a 200 day moving average price of $229.16.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 earnings per share. On average, equities analysts anticipate that CDW will post 9.89 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. CDW’s dividend payout ratio is currently 30.96%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tsfg LLC acquired a new stake in CDW in the 1st quarter worth $26,000. OFI Invest Asset Management bought a new position in CDW in the 3rd quarter valued at $25,000. Rise Advisors LLC acquired a new position in CDW in the first quarter valued at approximately $34,000. Larson Financial Group LLC bought a new position in CDW during the fourth quarter worth about $30,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in CDW in the third quarter worth $28,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.