CDW (NASDAQ:CDW) Price Target Raised to $201.00

CDW (NASDAQ:CDW) had its target price lifted by analysts at Morgan Stanley from $193.00 to $201.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 4.68% from the company’s previous close.

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

CDW Price Performance

CDW opened at $192.02 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a market capitalization of $25.59 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 5.39 and a beta of 1.01. The firm has a 50-day moving average price of $183.54 and a 200-day moving average price of $202.63.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that CDW will post 8.99 EPS for the current year.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On CDW

A number of institutional investors have recently bought and sold shares of the stock. PDS Planning Inc boosted its position in CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. Allworth Financial LP lifted its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC boosted its position in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares in the last quarter. OneAscent Wealth Management LLC grew its stake in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. 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.