UBS Group Issues Pessimistic Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its price objective reduced by research analysts at UBS Group from $233.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. UBS Group’s price objective indicates a potential upside of 21.32% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Trading Up 0.2 %

NASDAQ:CDW opened at $181.34 on Tuesday. The firm has a 50 day moving average of $180.54 and a 200 day moving average of $207.16. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the business earned $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW will post 8.99 earnings per share for the current fiscal year.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas purchased a new stake in CDW in the 3rd quarter worth approximately $1,629,000. Franklin Resources Inc. lifted its stake in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after purchasing an additional 3,567 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW during the third quarter worth $12,761,000. Thrivent Financial for Lutherans grew its position in CDW by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after buying an additional 68,023 shares during the period. Finally, Fortem Financial Group LLC purchased a new position in CDW in the third quarter valued at $1,061,000. 93.15% of the stock is owned by institutional investors and hedge funds.

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.