Barclays Lowers CDW (NASDAQ:CDW) Price Target to $201.00

CDW (NASDAQ:CDW) had its target price lowered by research analysts at Barclays from $229.00 to $201.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s price objective indicates a potential upside of 6.70% from the company’s previous close.

A number of other research firms have also recently commented on CDW. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $246.71.

CDW Stock Up 0.1 %

CDW stock opened at $188.38 on Thursday. The business has a fifty day moving average price of $220.12 and a 200-day moving average price of $223.72. CDW has a 1-year low of $187.73 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.96 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that CDW will post 9.38 EPS for the current fiscal year.

Institutional Trading of CDW

A number of large investors have recently modified their holdings of CDW. Vanguard Group Inc. increased its position in shares of CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares during the period. Perpetual Ltd purchased a new stake in shares of CDW during the third quarter worth $158,300,000. Lazard Asset Management LLC increased its holdings in CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after buying an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in CDW in the second quarter valued at $79,549,000. Finally, Canada Pension Plan Investment Board increased its holdings in CDW by 2,045.4% in the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after buying an additional 280,584 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Company Profile

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.