CDW (NASDAQ:CDW) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

CDW Corporation (NASDAQ:CDW)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $162.46 and traded as low as $142.41. CDW shares last traded at $143.69, with a volume of 2,015,000 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CDW shares. Barclays reduced their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Morgan Stanley lowered their price objective on CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group reduced their target price on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.43.

CDW Stock Down 0.9%

The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The stock’s 50-day moving average price is $147.60 and its 200-day moving average price is $162.46. The company has a market cap of $18.71 billion, a P/E ratio of 18.14, a PEG ratio of 2.02 and a beta of 1.07.

CDW (NASDAQ:CDW) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. As a group, research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s dividend payout ratio (DPR) is currently 31.82%.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the transaction, the insider owned 28,110 shares of the company’s stock, valued at $4,108,838.70. The trade was a 20.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CDW

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in CDW by 444.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock valued at $261,564,000 after acquiring an additional 1,332,454 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of CDW by 255.7% in the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after purchasing an additional 430,796 shares during the period. Contour Asset Management LLC purchased a new position in shares of CDW in the 1st quarter valued at approximately $64,505,000. Woodline Partners LP bought a new stake in shares of CDW during the first quarter valued at approximately $42,332,000. Finally, Select Equity Group L.P. grew its stake in CDW by 5.6% in the first quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock worth $592,311,000 after purchasing an additional 195,511 shares during the period. 93.15% of the stock is currently owned by institutional investors.

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.