CDW (NASDAQ:CDW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CDW (NASDAQ:CDW) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $185.00 to $205.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.15% from the company’s previous close.

Several other brokerages have also weighed in on CDW. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barclays cut their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of “Hold” and a consensus target price of $208.50.

CDW Price Performance

Shares of CDW stock opened at $179.59 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 3.03 and a beta of 0.93. CDW has a 1-year low of $137.31 and a 1-year high of $237.48. The firm’s 50-day moving average price is $179.53 and its two-hundred day moving average price is $175.78.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 earnings per share. On average, equities analysts predict that CDW will post 9.41 earnings per share for the current fiscal year.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider owned 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On CDW

Several large investors have recently made changes to their positions in CDW. Envestnet Asset Management Inc. grew its position in CDW by 20.8% in the first quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock valued at $33,255,000 after purchasing an additional 35,737 shares in the last quarter. Unison Asset Management LLC grew its position in CDW by 9.4% in the first quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider’s stock valued at $6,339,000 after purchasing an additional 3,657 shares in the last quarter. Franklin Resources Inc. grew its position in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider’s stock valued at $21,191,000 after purchasing an additional 13,748 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in CDW by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider’s stock valued at $963,000 after purchasing an additional 94 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares in the last quarter. 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.