CDW (NASDAQ:CDW) Sets New 12-Month Low – Time to Sell?

Shares of CDW Corporation (NASDAQ:CDW) reached a new 52-week low on Wednesday . The company traded as low as $97.12 and last traded at $99.30, with a volume of 4054270 shares changing hands. The stock had previously closed at $102.54.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CDW shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $150.00 target price on CDW in a report on Wednesday, May 6th. Citigroup reduced their target price on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, Barclays reduced their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.14.

CDW Price Performance

The firm’s 50-day moving average is $123.80 and its 200-day moving average is $133.12. The company has a market capitalization of $12.69 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.28. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.15 earnings per share. Equities analysts predict that CDW Corporation will post 10.01 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 annualized dividend and a yield of 2.5%. CDW’s payout ratio is currently 30.66%.

Institutional Trading of CDW

Hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in CDW in the third quarter worth $26,000. Hollencrest Capital Management lifted its stake in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Quent Capital LLC bought a new stake in CDW in the third quarter worth $57,000. eCIO Inc. bought a new stake in CDW in the fourth quarter worth $61,000. Finally, Covestor Ltd lifted its stake in CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after purchasing an additional 226 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

About CDW

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.