CDW (NASDAQ:CDW) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

CDW Corporation (NASDAQ:CDW)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $141.26 and traded as low as $119.38. CDW shares last traded at $120.16, with a volume of 1,801,076 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Evercore reaffirmed an “outperform” rating and issued a $180.00 price target on shares of CDW in a research note on Tuesday, January 20th. Citigroup upped their price objective on shares of CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research note on Tuesday, November 25th. Finally, Barclays decreased their target price on CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.43.

CDW Stock Down 0.1%

The firm has a market cap of $15.50 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06. The stock’s 50 day simple moving average is $126.28 and its 200 day simple moving average is $141.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.13. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.48 earnings per share. Research analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 annualized dividend and a yield of 2.1%. CDW’s dividend payout ratio (DPR) is presently 31.15%.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Border to Coast Pensions Partnership Ltd bought a new position in shares of CDW in the third quarter valued at approximately $29,649,000. Foyston Gordon & Payne Inc grew its holdings in CDW by 30.9% during the third quarter. Foyston Gordon & Payne Inc now owns 52,732 shares of the information technology services provider’s stock worth $8,399,000 after buying an additional 12,456 shares in the last quarter. Marshall Wace LLP grew its holdings in CDW by 245.7% during the second quarter. Marshall Wace LLP now owns 168,452 shares of the information technology services provider’s stock worth $30,084,000 after buying an additional 119,719 shares in the last quarter. DNB Asset Management AS raised its position in CDW by 733.9% in the 2nd 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 last quarter. Finally, Quantbot Technologies LP bought a new position in CDW during the 3rd quarter valued at $4,110,000. 93.15% of the stock is owned by institutional investors.

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.