CDW (NASDAQ:CDW) Given New $70.00 Price Target at Morgan Stanley

CDW (NASDAQ:CDW) had its price objective lowered by Morgan Stanley from $72.00 to $70.00 in a research report sent to investors on Thursday, February 8th. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

A number of other analysts have also weighed in on the stock. Robert W. Baird reiterated a buy rating and set a $80.00 target price on shares of CDW in a report on Wednesday, February 7th. BidaskClub upgraded shares of CDW from a hold rating to a buy rating in a report on Monday, February 5th. ValuEngine upgraded shares of CDW from a hold rating to a buy rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed a buy rating and set a $80.00 target price on shares of CDW in a research note on Monday, January 15th. Finally, Zacks Investment Research downgraded shares of CDW from a hold rating to a sell rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $72.00.

CDW (CDW) traded up $1.01 during midday trading on Thursday, reaching $70.38. 1,391,600 shares of the company’s stock traded hands, compared to its average volume of 935,008. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 4.20. CDW has a twelve month low of $55.80 and a twelve month high of $76.73. The stock has a market capitalization of $10,617.97, a price-to-earnings ratio of 21.14 and a beta of 1.07.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.85 billion. CDW had a net margin of 3.44% and a return on equity of 68.41%. CDW’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. equities analysts expect that CDW will post 4.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, February 23rd. CDW’s dividend payout ratio is presently 25.23%.

In related news, insider Jonathan J. Stevens sold 6,700 shares of CDW stock in a transaction on Monday, December 4th. The shares were sold at an average price of $69.30, for a total transaction of $464,310.00. Following the transaction, the insider now owns 74,366 shares in the company, valued at approximately $5,153,563.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Neal J. Campbell sold 2,400 shares of CDW stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $68.22, for a total transaction of $163,728.00. Following the completion of the sale, the insider now owns 28,479 shares in the company, valued at $1,942,837.38. The disclosure for this sale can be found here. Insiders have sold a total of 56,891 shares of company stock worth $3,998,522 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of CDW. Piedmont Investment Advisors LLC grew its holdings in CDW by 63.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 23,562 shares of the information technology services provider’s stock valued at $1,473,000 after purchasing an additional 9,179 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in CDW by 10.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 187,917 shares of the information technology services provider’s stock valued at $11,750,000 after purchasing an additional 17,849 shares during the last quarter. Toronto Dominion Bank boosted its position in CDW by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 392 shares during the period. Achmea Investment Management B.V. boosted its position in CDW by 593.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 27,115 shares of the information technology services provider’s stock valued at $1,693,000 after buying an additional 23,207 shares during the period. Finally, Nationwide Fund Advisors boosted its position in CDW by 2.1% in the 3rd quarter. Nationwide Fund Advisors now owns 270,818 shares of the information technology services provider’s stock valued at $17,874,000 after buying an additional 5,478 shares during the period. Hedge funds and other institutional investors own 90.62% of the company’s stock.

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About CDW

CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.

Analyst Recommendations for CDW (NASDAQ:CDW)

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