CDW (NASDAQ:CDW) Reaches New 52-Week Low – Time to Sell?

Shares of CDW Co. (NASDAQ:CDW) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $170.68 and last traded at $171.40, with a volume of 840150 shares traded. The stock had previously closed at $176.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday. Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.75.

CDW Price Performance

The stock has a market capitalization of $23.26 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company’s 50-day simple moving average is $192.28 and its 200-day simple moving average is $212.17.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. As a group, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW during the third quarter worth $1,629,000. Franklin Resources Inc. grew its position in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CDW during the 3rd quarter worth approximately $973,000. Sanctuary Advisors LLC boosted its stake in shares of CDW by 5.0% in the third quarter. Sanctuary Advisors LLC now owns 5,568 shares of the information technology services provider’s stock valued at $1,260,000 after buying an additional 265 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its position in CDW by 18.6% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,528 shares of the information technology services provider’s stock worth $572,000 after buying an additional 397 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions 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 and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.