CDW (NASDAQ:CDW) Hits New 12-Month Low – Here’s What Happened

CDW Corporation (NASDAQ:CDW)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $123.09 and last traded at $123.58, with a volume of 257459 shares changing hands. The stock had previously closed at $125.40.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CDW. Barclays decreased their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Morgan Stanley downgraded shares of CDW from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $177.00 to $141.00 in a research report on Tuesday, January 20th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of CDW in a research report on Tuesday, January 20th. Finally, Citigroup cut their target price on shares of CDW from $160.00 to $148.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.00.

CDW Stock Performance

The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a 50-day moving average price of $138.17 and a 200-day moving average price of $153.58. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. As a group, equities research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. CDW’s dividend payout ratio is presently 31.82%.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the sale, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This represents a 20.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Trading of CDW

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new position in shares of CDW in the third quarter valued at $26,000. Quent Capital LLC acquired a new position in shares of CDW in the 3rd quarter worth $57,000. eCIO Inc. purchased a new stake in shares of CDW during the fourth quarter valued at $61,000. Covestor Ltd boosted its position in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares during the period. Finally, American National Bank & Trust purchased a new position in CDW in the 4th quarter worth about $110,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.