Morgan Stanley Forecasts Strong Price Appreciation for CDW (NASDAQ:CDW) Stock

CDW (NASDAQ:CDW) had its price objective lifted by analysts at Morgan Stanley from $193.00 to $201.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 4.68% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Down 3.9 %

NASDAQ CDW opened at $192.02 on Thursday. The firm has a market capitalization of $25.59 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. The business’s 50-day moving average price is $183.54 and its two-hundred day moving average price is $202.63. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 58.31% and a net margin of 5.33%. On average, analysts expect that CDW will post 8.99 EPS for the current year.

CDW declared that its board has authorized a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDW. PDS Planning Inc lifted its position in CDW by 4.3% in the 3rd 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. Allworth Financial LP lifted its holdings 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 purchasing an additional 52 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares during the last quarter. OneAscent Wealth Management LLC grew its holdings in CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position 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 buying an additional 58 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.