JPMorgan Chase & Co. Lowers CDW (NASDAQ:CDW) Price Target to $175.00

CDW (NASDAQ:CDW) had its target price reduced by analysts at JPMorgan Chase & Co. from $222.00 to $175.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.53% from the company’s current price.

CDW has been the topic of several other research reports. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Citigroup decreased their price target on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.38.

CDW Price Performance

CDW stock opened at $151.47 on Thursday. 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 company has a market capitalization of $19.96 billion, a P/E ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. The business has a 50 day simple moving average of $167.67 and a 200-day simple moving average of $183.69. CDW has a twelve month low of $137.31 and a twelve month high of $248.12.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW announced that its board has authorized a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On CDW

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares in the last quarter. Summit Trail Advisors LLC grew its stake in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Fulcrum Equity Management increased its holdings in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after acquiring an additional 61 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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.