Morgan Stanley Issues Positive Forecast for CDW (NASDAQ:CDW) Stock Price

CDW (NASDAQ:CDW) had its target price increased by equities researchers at Morgan Stanley from $193.00 to $201.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 2.49% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

CDW stock opened at $206.13 on Thursday. The stock has a fifty day moving average of $183.08 and a 200-day moving average of $202.65. CDW has a 52 week low of $168.43 and a 52 week 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 stock has a market capitalization of $27.47 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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, sell-side analysts expect that CDW will post 8.99 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated a share buyback 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 often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CDW. Oddo BHF Asset Management Sas purchased a new position in CDW in the third quarter worth about $1,629,000. Assenagon Asset Management S.A. boosted its holdings in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. grew its position in CDW by 3.4% during 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 buying an additional 3,567 shares during the period. Czech National Bank increased its holdings in CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after buying an additional 1,685 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW in the third quarter worth approximately $12,761,000. 93.15% of the stock is owned by institutional investors.

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.