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

CDW Co. (NASDAQ:CDW)’s stock price 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. The stock had previously closed at $176.66.

Wall Street Analyst Weigh In

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

CDW Trading Down 2.9 %

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 firm has a market cap of $22.85 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The firm’s fifty day moving average is $194.33 and its 200-day moving average is $212.73.

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

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is 30.56%.

Institutional Investors Weigh In On CDW

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in CDW during the 3rd quarter valued at about $1,629,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in CDW during the third quarter worth $12,761,000. Raymond James & Associates raised its position in CDW by 16.6% in the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after buying an additional 19,867 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of CDW by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after purchasing an additional 68,023 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in CDW by 50.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock worth $543,000 after purchasing an additional 807 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.