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

Shares of CDW Corporation (NASDAQ:CDW) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $118.16 and last traded at $118.17, with a volume of 486676 shares trading hands. The stock had previously closed at $123.42.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on CDW from $170.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Barclays dropped their price objective on CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Tuesday, January 27th. 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 report on Tuesday, November 25th. Finally, Morgan Stanley raised their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.43.

CDW Stock Down 1.8%

The stock’s 50-day moving average price is $129.85 and its two-hundred day moving average price is $144.87. The stock has a market capitalization of $15.63 billion, a PE ratio of 14.96, a P/E/G ratio of 1.71 and a beta of 1.06. 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 issued its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period last year, the company posted $2.48 EPS. CDW’s revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp raised its position in shares of CDW by 316.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after purchasing an additional 3,719 shares during the last quarter. Empowered Funds LLC increased its stake in CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in CDW by 48.8% in the second quarter. Campbell & CO Investment Adviser LLC now owns 6,433 shares of the information technology services provider’s stock worth $1,149,000 after buying an additional 2,111 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of CDW by 0.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 84,356 shares of the information technology services provider’s stock worth $15,065,000 after buying an additional 731 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of CDW by 2.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,932 shares of the information technology services provider’s stock valued at $3,560,000 after buying an additional 399 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

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.