CDW (NASDAQ:CDW) Sets New 12-Month Low – Here’s What Happened

CDW Corporation (NASDAQ:CDW) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $118.44 and last traded at $120.7620, with a volume of 203643 shares trading hands. The stock had previously closed at $123.39.

Analyst Upgrades and Downgrades

Several research firms recently commented on CDW. Citigroup raised their price target on shares of CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. UBS Group dropped their target price on shares of CDW from $190.00 to $162.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a research report on Tuesday, November 25th. Finally, Evercore reissued an “outperform” rating and set a $180.00 target price on shares of CDW in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.43.

CDW Stock Performance

The firm has a 50-day moving average of $131.65 and a 200-day moving average of $146.87. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.69 and a beta of 1.08.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the business earned $2.48 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.52 dividend on an annualized basis and a yield of 2.1%. CDW’s dividend payout ratio (DPR) is currently 31.15%.

Insider Buying and Selling

In other news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 28,110 shares of the company’s stock, valued at $4,108,838.70. This represents a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in CDW in the third quarter valued at approximately $26,000. Quent Capital LLC purchased a new position in shares of CDW during the 3rd quarter valued at approximately $57,000. eCIO Inc. acquired a new position in shares of CDW in the 4th quarter valued at $61,000. Covestor Ltd boosted its holdings in CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in CDW during the fourth quarter worth $110,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.