Citigroup Issues Pessimistic Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its price objective dropped by stock analysts at Citigroup from $220.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price target would suggest a potential upside of 6.08% from the company’s current price.

A number of other brokerages also recently commented on CDW. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays lifted their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.88.

CDW Trading Down 0.6 %

Shares of CDW stock opened at $150.83 on Monday. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a 50-day moving average price of $170.14 and a 200 day moving average price of $184.91. CDW has a twelve month low of $137.31 and a twelve month high of $248.12.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Research analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in 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 often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CDW. Barclays PLC boosted its holdings in CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. Coldstream Capital Management Inc. lifted its holdings in CDW by 7.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,594 shares of the information technology services provider’s stock worth $355,000 after buying an additional 117 shares in the last quarter. Fulcrum Equity Management boosted its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in CDW by 18.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock valued at $572,000 after buying an additional 397 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of CDW by 5.0% during the third quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider’s stock valued at $1,260,000 after acquiring an additional 265 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

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.