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

Shares of CDW Corporation (NASDAQ:CDW) reached a new 52-week low on Thursday . The company traded as low as $128.78 and last traded at $129.54, with a volume of 1512461 shares changing hands. The stock had previously closed at $134.34.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CDW shares. UBS Group cut their price objective on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a report on Tuesday, November 25th. Evercore ISI lowered their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Morgan Stanley dropped their price objective on CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.43.

CDW Stock Performance

The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The stock has a market cap of $17.38 billion, a PE ratio of 16.85, a PEG ratio of 1.73 and a beta of 1.08. The company’s 50-day moving average price is $141.68 and its two-hundred day moving average price is $158.10.

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

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.63 per share. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date was Tuesday, November 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. CDW’s dividend payout ratio is currently 31.82%.

Insiders Place Their Bets

In related news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was 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 owned 28,110 shares in the company, valued at $4,108,838.70. The trade was a 20.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On CDW

A number of hedge funds have recently made changes to their positions in CDW. Marshall Wace LLP grew its holdings in shares of CDW by 245.7% during the 2nd quarter. Marshall Wace LLP now owns 168,452 shares of the information technology services provider’s stock valued at $30,084,000 after purchasing an additional 119,719 shares during the last quarter. DNB Asset Management AS boosted its position in CDW by 733.9% during the second quarter. DNB Asset Management AS now owns 25,641 shares of the information technology services provider’s stock valued at $4,579,000 after buying an additional 22,566 shares during the period. SG Americas Securities LLC boosted its position in CDW by 1,622.9% during the second quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock valued at $36,118,000 after buying an additional 190,500 shares during the period. TD Private Client Wealth LLC grew its stake in shares of CDW by 781.3% during the second quarter. TD Private Client Wealth LLC now owns 2,732 shares of the information technology services provider’s stock valued at $488,000 after buying an additional 2,422 shares during the last quarter. Finally, Crescent Grove Advisors LLC grew its stake in shares of CDW by 12.6% during the second quarter. Crescent Grove Advisors LLC now owns 160,740 shares of the information technology services provider’s stock valued at $28,707,000 after buying an additional 18,009 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Company Profile

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.