CDW (NASDAQ:CDW) Sets New 52-Week Low – Here’s Why

Shares of CDW Co. (NASDAQ:CDW) reached a new 52-week low during trading on Wednesday . The stock traded as low as $186.54 and last traded at $187.35, with a volume of 1124991 shares traded. The stock had previously closed at $191.91.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered 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 note on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday. They set a “buy” rating and a $230.00 price objective for the company. Finally, Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Down 2.8 %

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 business’s 50-day simple moving average is $214.18 and its two-hundred day simple moving average is $220.53. The stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 5.19 and a beta of 1.05.

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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the company posted $2.60 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDW. Quest Partners LLC purchased a new position in CDW in the 2nd quarter valued at about $35,000. ORG Partners LLC acquired a new position in shares of CDW in the second quarter worth about $34,000. Canoe Financial LP purchased a new position in CDW in the third quarter valued at about $37,000. Fortitude Family Office LLC grew its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW during the 2nd quarter worth approximately $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

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.