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

CDW Co. (NASDAQ:CDW) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $169.33 and last traded at $169.33, with a volume of 392836 shares. The stock had previously closed at $174.04.

Analysts Set New Price Targets

Several research analysts have issued reports on CDW shares. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.75.

CDW Trading Up 2.5 %

The stock has a market cap of $23.22 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The stock’s 50-day moving average is $182.37 and its two-hundred day moving average is $208.41. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDW. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at $35,000. Canoe Financial LP bought a new position in CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC raised its position in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new stake in CDW in the third quarter worth about $43,000. Finally, Covestor Ltd boosted its position in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the period. Institutional investors own 93.15% of the company’s stock.

About CDW

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.