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 research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

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

CDW Price Performance

NASDAQ:CDW opened at $177.79 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a 50 day moving average price of $195.27 and a 200-day moving average price of $213.06. CDW has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 EPS. Equities research analysts forecast that CDW will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. 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 30.56%.

Institutional Investors Weigh In On CDW

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in CDW during the 2nd quarter valued at about $35,000. Canoe Financial LP acquired a new stake in shares of CDW during the third quarter worth about $37,000. Fortitude Family Office LLC lifted its position in shares of 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 purchased a new position in shares of CDW in the second quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of CDW in the third quarter valued at approximately $43,000. 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.