CDW (NASDAQ:CDW) Price Target Raised to $223.00 at Barclays

CDW (NASDAQ:CDW) had its target price upped by investment analysts at Barclays from $201.00 to $223.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s target price suggests a potential upside of 16.13% from the company’s previous close.

Several other analysts also recently issued reports on CDW. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. 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 note on Monday, December 16th. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Down 3.9 %

Shares of CDW stock opened at $192.02 on Thursday. CDW has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a 50-day simple moving average of $183.54 and a 200 day simple moving average of $202.63. The stock has a market capitalization of $25.59 billion, a P/E ratio of 23.47, a P/E/G ratio of 5.39 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 58.31% and a net margin of 5.33%. On average, sell-side analysts expect that CDW will post 8.99 earnings per share for the current fiscal year.

CDW declared that its board has authorized a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CDW. Canoe Financial LP acquired a new position in CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC grew its stake in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Allworth Financial LP raised its stake in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in CDW in the 4th quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $43,000. 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.