CDW (NASDAQ:CDW) Price Target Raised to $193.00 at Morgan Stanley

CDW (NASDAQ:CDW) had its price target hoisted by Morgan Stanley from $190.00 to $193.00 in a research note issued to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.75.

CDW Price Performance

CDW opened at $171.49 on Monday. The company has a fifty day simple moving average of $194.33 and a 200 day simple moving average of $212.73. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a market cap of $22.85 billion, a P/E ratio of 20.96, a P/E/G ratio of 5.01 and a beta of 1.02. CDW has a 12 month low of $170.68 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the business earned $2.60 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts expect that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW in the 3rd quarter valued at approximately $1,629,000. Franklin Resources Inc. lifted its stake in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in CDW in the third quarter valued at $973,000. Sanctuary Advisors LLC grew its position in shares of CDW by 5.0% in the 3rd 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 during the period. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of CDW by 18.6% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock worth $572,000 after purchasing an additional 397 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

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.