CDW (NASDAQ:CDW) Price Target Raised to $201.00 at Morgan Stanley

CDW (NASDAQ:CDW) had its price objective raised by Morgan Stanley from $193.00 to $201.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

Several other brokerages have also issued reports on CDW. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. UBS Group decreased 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. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Down 3.0 %

Shares of NASDAQ:CDW opened at $199.86 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.40 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. The company’s fifty day simple moving average is $183.54 and its 200 day simple moving average is $202.63. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 5.39 and a beta of 1.01.

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

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Investors Weigh In On CDW

Several large investors have recently modified their holdings of CDW. Cetera Investment Advisers increased its position in shares of CDW by 33.4% during the second quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock worth $2,886,000 after buying an additional 3,228 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of CDW during the second quarter worth $1,285,000. Czech National Bank increased its position in shares of CDW by 6.2% during the third quarter. Czech National Bank now owns 27,210 shares of the information technology services provider’s stock worth $6,158,000 after buying an additional 1,600 shares during the period. GAMMA Investing LLC grew its holdings in CDW by 10.8% in the third quarter. GAMMA Investing LLC now owns 1,892 shares of the information technology services provider’s stock worth $428,000 after purchasing an additional 185 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in CDW by 17.9% in the third quarter. Atomi Financial Group Inc. now owns 1,251 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 190 shares during the period. 93.15% of the stock is currently 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.