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

CDW (NASDAQ:CDW) had its target price hoisted by Morgan Stanley from $190.00 to $193.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 9.25% from the stock’s previous close.

A number of other brokerages also recently commented on CDW. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.75.

CDW Stock Down 0.6 %

NASDAQ:CDW opened at $176.66 on Monday. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. CDW has a one year low of $172.95 and a one year high of $263.37. The stock has a 50-day simple moving average of $195.27 and a 200 day simple moving average of $213.06. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted 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). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. Sell-side analysts predict that CDW will post 8.99 EPS for the current fiscal year.

Institutional Investors Weigh In On CDW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Quest Partners LLC bought a new stake in CDW during the second quarter worth approximately $35,000. Canoe Financial LP bought a new stake in CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its holdings in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Summit Securities Group LLC bought a new stake in CDW during the second quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in CDW during the third quarter worth approximately $43,000. Institutional investors 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.