CDW (NASDAQ:CDW) Sets New 52-Week Low – Here’s Why

CDW Corporation (NASDAQ:CDW)’s stock price hit a new 52-week low on Thursday . The company traded as low as $119.83 and last traded at $120.9070, with a volume of 509898 shares traded. The stock had previously closed at $124.29.

Wall Street Analyst Weigh In

CDW has been the topic of several research reports. Citigroup upped their price objective on shares of CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research report on Tuesday, January 27th. Evercore reissued an “outperform” rating and set a $180.00 price objective on shares of CDW in a report on Tuesday, January 20th. Barclays dropped their target price on CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a report on Tuesday, November 25th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.43.

CDW Stock Performance

The firm has a market cap of $16.23 billion, a PE ratio of 15.41, a PEG ratio of 1.72 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.77. The company has a 50-day simple moving average of $133.31 and a two-hundred day simple moving average of $147.99.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the firm earned $2.48 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. CDW’s dividend payout ratio (DPR) is presently 31.15%.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDW. Jones Financial Companies Lllp boosted its position in CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after purchasing an additional 3,719 shares during the period. Empowered Funds LLC boosted its holdings in CDW by 1.2% in the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after buying an additional 216 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in CDW by 9.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 363,552 shares of the information technology services provider’s stock valued at $64,927,000 after buying an additional 31,365 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in CDW by 28.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,038 shares of the information technology services provider’s stock valued at $1,078,000 after acquiring an additional 1,338 shares during the period. Finally, Achmea Investment Management B.V. lifted its position in shares of CDW by 13.5% during the second quarter. Achmea Investment Management B.V. now owns 7,245 shares of the information technology services provider’s stock worth $1,294,000 after acquiring an additional 859 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.