CDW (NASDAQ:CDW) Hits New 52-Week Low – What’s Next?

CDW Corporation (NASDAQ:CDW)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $123.09 and last traded at $123.58, with a volume of 257459 shares traded. The stock had previously closed at $125.40.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CDW shares. 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 research note on Tuesday, November 25th. Barclays cut their price objective on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Citigroup lowered their target price on CDW from $160.00 to $148.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. UBS Group decreased their target price on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Morgan Stanley downgraded shares of CDW from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $177.00 to $141.00 in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.00.

CDW Stock Down 0.8%

The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.67 and a beta of 1.08. The firm’s 50 day moving average price is $138.17 and its two-hundred day moving average price is $153.58. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30.

CDW (NASDAQ:CDW) last announced its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. As a group, sell-side analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were issued a dividend of $0.63 per share. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s dividend payout ratio is currently 31.82%.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW 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 sale, the insider owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. The trade was a 20.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CDW

Large investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS raised its holdings in shares of CDW by 0.6% in the fourth quarter. KLP Kapitalforvaltning AS now owns 78,500 shares of the information technology services provider’s stock worth $10,692,000 after acquiring an additional 500 shares during the last quarter. Local Pensions Partnership Investment Ltd boosted its position in shares of CDW by 7.8% in the fourth quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock worth $33,940,000 after buying an additional 18,000 shares during the period. Farther Finance Advisors LLC increased its position in shares of CDW by 30.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock worth $162,000 after acquiring an additional 277 shares during the last quarter. Steph & Co. lifted its stake in shares of CDW by 53.3% in the fourth quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock worth $157,000 after acquiring an additional 400 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in CDW in the fourth quarter valued at about $307,000. 93.15% of the stock is owned by institutional investors and hedge funds.

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.