CDW (NASDAQ:CDW) Sets New 1-Year Low After Analyst Downgrade

CDW Corporation (NASDAQ:CDW) reached a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $160.00 to $148.00. Citigroup currently has a neutral rating on the stock. CDW traded as low as $126.00 and last traded at $127.2840, with a volume of 179062 shares trading hands. The stock had previously closed at $131.75.

Several other brokerages have also issued reports on CDW. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Barclays cut their price target on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of CDW in a research note on Tuesday. UBS Group dropped their price objective on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $171.00.

Insider Buying and Selling at CDW

In related 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 transaction of $1,081,658.00. Following the completion of the sale, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This represents a 20.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of CDW

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in shares of CDW during the third quarter valued at about $26,000. Quent Capital LLC bought a new position in CDW during the third quarter valued at about $57,000. eCIO Inc. acquired a new position in CDW in the 4th quarter valued at approximately $61,000. Covestor Ltd lifted its position in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after acquiring an additional 226 shares during the period. Finally, Steph & Co. lifted its position in shares of CDW by 917.6% in the 2nd quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock worth $124,000 after acquiring an additional 624 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

The company has a market cap of $16.24 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. 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 company has a fifty day moving average price of $139.84 and a two-hundred day moving average price of $155.41.

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

CDW Increases Dividend

The firm also recently announced 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 an increase 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 2.0%. CDW’s dividend payout ratio (DPR) is presently 31.82%.

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.