CDW Co. (NASDAQ:CDW – Get Rating) – Equities researchers at William Blair increased their FY2023 EPS estimates for CDW in a report issued on Wednesday, August 3rd. William Blair analyst M. Nolan now forecasts that the information technology services provider will earn $10.15 per share for the year, up from their prior estimate of $10.05. William Blair has an “Outperform” rating on the stock. The consensus estimate for CDW’s current full-year earnings is $9.19 per share. William Blair also issued estimates for CDW’s Q4 2023 earnings at $2.65 EPS.
A number of other brokerages also recently weighed in on CDW. Stifel Nicolaus upgraded CDW from a “hold” rating to a “buy” rating and upped their target price for the company from $200.00 to $210.00 in a report on Thursday, April 14th. Evercore ISI dropped their price objective on CDW from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Thursday, July 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.83.
CDW Price Performance
Shares of CDW opened at $179.69 on Monday. The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.49 and a beta of 1.12. CDW has a fifty-two week low of $152.15 and a fifty-two week high of $208.71. The company has a debt-to-equity ratio of 5.86, a current ratio of 1.30 and a quick ratio of 1.06. The business’s 50-day moving average is $166.68 and its 200-day moving average is $171.96.
CDW (NASDAQ:CDW – Get Rating) last issued its earnings results on Wednesday, August 3rd. The information technology services provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.18. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.15 billion. CDW had a return on equity of 132.68% and a net margin of 4.41%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is presently 27.21%.
Institutional Trading of CDW
Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in shares of CDW by 42.5% during the 1st quarter. CWM LLC now owns 4,074 shares of the information technology services provider’s stock valued at $729,000 after purchasing an additional 1,215 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of CDW by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 18,116 shares of the information technology services provider’s stock valued at $3,241,000 after purchasing an additional 191 shares in the last quarter. Atria Investments LLC lifted its holdings in shares of CDW by 7.0% during the 4th quarter. Atria Investments LLC now owns 30,913 shares of the information technology services provider’s stock valued at $6,330,000 after purchasing an additional 2,033 shares in the last quarter. Oribel Capital Management LP bought a new position in shares of CDW during the 4th quarter valued at about $14,396,000. Finally, Boston Private Wealth LLC lifted its holdings in shares of CDW by 5.3% during the 4th quarter. Boston Private Wealth LLC now owns 132,279 shares of the information technology services provider’s stock valued at $27,088,000 after purchasing an additional 6,641 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors and hedge funds.
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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.
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