CDW common stock (CDW) Given Average Recommendation of “Buy” by Analysts
CDW common stock (NASDAQ:CDW) has earned an average recommendation of “Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $87.88.
A number of analysts have recently issued reports on the company. Needham & Company LLC lifted their target price on CDW common stock from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. BidaskClub lowered CDW common stock from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Morgan Stanley lifted their target price on CDW common stock from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 3rd. Robert W. Baird reaffirmed a “buy” rating on shares of CDW common stock in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research lowered CDW common stock from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th.
Shares of NASDAQ CDW opened at $85.98 on Friday. CDW common stock has a 1 year low of $58.57 and a 1 year high of $88.36. The stock has a market cap of $12.81 billion, a PE ratio of 22.16 and a beta of 1.03. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.16 and a current ratio of 1.36.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, August 23rd. CDW common stock’s dividend payout ratio is currently 21.65%.
In related news, insider Christine A. Leahy sold 17,500 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $83.79, for a total value of $1,466,325.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina V. Rother sold 4,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $84.67, for a total value of $338,680.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,741 shares of company stock valued at $11,360,230. 2.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CDW. BlackRock Inc. increased its holdings in CDW common stock by 11.9% in the first quarter. BlackRock Inc. now owns 13,264,623 shares of the information technology services provider’s stock valued at $932,638,000 after buying an additional 1,411,886 shares during the last quarter. FIL Ltd bought a new position in shares of CDW common stock during the first quarter valued at approximately $26,086,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of CDW common stock by 7.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,505,813 shares of the information technology services provider’s stock valued at $316,804,000 after purchasing an additional 315,961 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of CDW common stock by 18.9% during the first quarter. American Century Companies Inc. now owns 1,957,910 shares of the information technology services provider’s stock valued at $137,661,000 after purchasing an additional 310,819 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of CDW common stock by 6.0% during the first quarter. Neuberger Berman Group LLC now owns 4,777,370 shares of the information technology services provider’s stock valued at $335,897,000 after purchasing an additional 271,866 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
About CDW common stock
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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