Morgan Stanley Increases CDW (NASDAQ:CDW) Price Target to $217.00

CDW (NASDAQ:CDW – Get Rating) had its price target boosted by stock analysts at Morgan Stanley from $210.00 to $217.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s price target points to a potential upside of 9.99% from the company’s previous close.

CDW has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, December 20th. StockNews.com raised shares of CDW from a “hold” rating to a “buy” rating in a research report on Thursday, January 12th. Citigroup lowered their price objective on shares of CDW from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Raymond James lowered their price objective on shares of CDW from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Finally, Credit Suisse Group increased their price objective on shares of CDW from $202.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.14.

CDW Stock Down 0.4 %

CDW stock opened at $197.29 on Wednesday. The company has a market cap of $26.71 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.49 and a beta of 1.13. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 4.60. CDW has a 12 month low of $147.91 and a 12 month high of $201.00. The firm has a 50-day moving average of $185.50 and a two-hundred day moving average of $175.14.

CDW (NASDAQ:CDW – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The information technology services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.05. The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.37% and a return on equity of 121.34%. As a group, analysts forecast that CDW will post 9.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CDW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Allworth Financial LP lifted its position in shares of CDW by 76.3% during the 4th quarter. Allworth Financial LP now owns 141 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 61 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of CDW during the 2nd quarter worth $26,000. SeaCrest Wealth Management LLC purchased a new stake in shares of CDW during the 2nd quarter worth $40,000. First Financial Corp IN lifted its position in shares of CDW by 66.0% during the 2nd quarter. First Financial Corp IN now owns 269 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 107 shares during the last quarter. Finally, Clear Street Markets LLC lifted its position in shares of CDW by 405.4% during the 2nd quarter. Clear Street Markets LLC now owns 283 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

About CDW

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.