CDW (NASDAQ:CDW) Reaches New 52-Week Low – Here’s What Happened

CDW Corporation (NASDAQ:CDW)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $119.83 and last traded at $120.9070, with a volume of 509898 shares changing hands. The stock had previously closed at $124.29.

Wall Street Analyst Weigh In

Several analysts have issued reports on CDW shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research note on Tuesday, January 27th. Evercore reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of CDW in a research note on Tuesday, January 20th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price on the stock in a report on Tuesday, November 25th. Barclays decreased their target price on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Finally, Citigroup upped their price target on shares of CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.43.

CDW Stock Down 2.5%

The firm has a market cap of $15.78 billion, a PE ratio of 14.98, a PEG ratio of 1.74 and a beta of 1.08. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. The company’s 50-day simple moving average is $134.23 and its two-hundred day simple moving average is $148.49.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.44 by $0.13. The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 earnings per share. On average, analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be issued a $0.63 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $2.52 annualized dividend and a yield of 2.1%. CDW’s dividend payout ratio (DPR) is 31.15%.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 7,400 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,108,838.70. This trade represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CDW. Align Financial LLC purchased a new stake in shares of CDW in the 4th quarter worth about $1,929,000. California State Teachers Retirement System raised its stake in CDW by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 230,692 shares of the information technology services provider’s stock worth $31,420,000 after buying an additional 5,121 shares in the last quarter. Van ECK Associates Corp lifted its holdings in CDW by 9.8% in the fourth quarter. Van ECK Associates Corp now owns 27,910 shares of the information technology services provider’s stock worth $3,801,000 after buying an additional 2,498 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in CDW during the 4th quarter valued at approximately $351,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of CDW by 38.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after acquiring an additional 254 shares during the period. 93.15% of the stock is owned by hedge funds and other 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.