Redburn Atlantic Initiates Coverage on CDW (NASDAQ:CDW)

Equities researchers at Redburn Atlantic began coverage on shares of CDW (NASDAQ:CDW) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $230.00 price target on the information technology services provider’s stock. Redburn Atlantic’s price target would indicate a potential upside of 29.48% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Down 1.7 %

NASDAQ CDW opened at $177.63 on Friday. The stock has a 50 day moving average price of $213.49 and a 200-day moving average price of $219.90. CDW has a one year low of $175.94 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business earned $2.60 EPS. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that CDW will post 9.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. RDA Financial Network lifted its holdings in shares of CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares during the period. PDS Planning Inc raised its holdings in shares of CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after acquiring an additional 54 shares during the period. Profund Advisors LLC grew its holdings in CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after acquiring an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC increased its position in CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.