CDW (NASDAQ:CDW) Price Target Increased to $188.00 by Analysts at Morgan Stanley


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CDW (NASDAQ:CDW) had its price target boosted by analysts at Morgan Stanley from $164.00 to $188.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 10.38% from the stock’s previous close.

CDW has been the subject of several other reports. Credit Suisse Group boosted their target price on shares of CDW from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. William Blair restated an “outperform” rating on shares of CDW in a research note on Wednesday, February 10th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research note on Monday, March 8th. Finally, Citigroup boosted their price objective on shares of CDW from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $152.50.

Shares of CDW opened at $170.32 on Thursday. The company’s 50 day moving average price is $160.37 and its 200 day moving average price is $138.94. CDW has a 52 week low of $93.75 and a 52 week high of $172.79. The company has a market capitalization of $24.01 billion, a PE ratio of 33.59, a PEG ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.33 and a current ratio of 1.50.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Tuesday, February 9th. The information technology services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.31. CDW had a net margin of 4.08% and a return on equity of 88.43%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts forecast that CDW will post 6.08 earnings per share for the current fiscal year.

CDW announced that its board has authorized a stock buyback program on Wednesday, February 10th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 5.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In other news, insider Frederick J. Kulevich sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $154.78, for a total value of $386,950.00. Following the sale, the insider now owns 15,478 shares of the company’s stock, valued at approximately $2,395,684.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christina M. Corley sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $162.13, for a total transaction of $567,455.00. Following the completion of the sale, the insider now directly owns 44,235 shares in the company, valued at approximately $7,171,820.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,500 shares of company stock worth $1,421,480. 1.33% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of CDW. Norges Bank bought a new stake in CDW during the 4th quarter worth about $205,404,000. Mawer Investment Management Ltd. boosted its stake in shares of CDW by 45.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 2,847,959 shares of the information technology services provider’s stock valued at $375,333,000 after purchasing an additional 895,959 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of CDW by 14.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,159,012 shares of the information technology services provider’s stock valued at $679,906,000 after purchasing an additional 665,708 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of CDW by 8.2% in the 4th quarter. Select Equity Group L.P. now owns 7,460,355 shares of the information technology services provider’s stock valued at $983,200,000 after purchasing an additional 565,290 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of CDW by 10,701.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 541,887 shares of the information technology services provider’s stock valued at $71,415,000 after purchasing an additional 536,870 shares during the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Analyst Recommendations for CDW (NASDAQ:CDW)

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