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

Shares of CDW Corporation (NASDAQ:CDW) reached a new 52-week low during trading on Thursday . The stock traded as low as $122.78 and last traded at $121.99, with a volume of 719889 shares. The stock had previously closed at $134.97.

Wall Street Analyst Weigh In

Several research firms recently commented on CDW. Evercore reaffirmed an “outperform” rating and set a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Morgan Stanley upped their price target on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Barclays decreased their price objective on CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their target price on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, Citigroup lifted their price target on CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.43.

CDW Stock Down 6.0%

The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. The company has a market capitalization of $16.51 billion, a P/E ratio of 15.68, a PEG ratio of 1.98 and a beta of 1.08. The company has a 50 day moving average of $136.30 and a 200-day moving average of $150.29.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.13. CDW had a return on equity of 50.66% and a net margin of 4.76%.The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the company posted $2.48 EPS. CDW’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

Insider Buying and Selling

In other news, insider Sona Chawla sold 7,400 shares of the firm’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 trade represents a 20.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On CDW

Several hedge funds and other institutional investors have recently modified their holdings of CDW. Fenimore Asset Management Inc lifted its holdings in CDW by 0.8% in the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after buying an additional 9,485 shares during the period. Marshall Wace LLP grew its holdings in shares of CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after acquiring an additional 430,796 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of CDW by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,345 shares of the information technology services provider’s stock worth $58,192,000 after acquiring an additional 1,793 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock valued at $38,812,000 after purchasing an additional 48,547 shares during the period. Finally, Local Pensions Partnership Investment Ltd lifted its stake in shares of CDW by 7.8% in the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock valued at $33,940,000 after purchasing an additional 18,000 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.