CDW (NASDAQ:CDW) Sets New 12-Month Low – Time to Sell?

Shares of CDW Corporation (NASDAQ:CDW) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $97.12 and last traded at $99.30, with a volume of 4054270 shares traded. The stock had previously closed at $102.54.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CDW shares. Barclays cut their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $160.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley increased their price objective on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Raymond James Financial set a $150.00 price objective on shares of CDW in a research report on Wednesday, May 6th. Finally, Citigroup cut their price objective on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.14.

CDW Stock Performance

The company’s 50 day moving average price is $123.80 and its 200-day moving average price is $133.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. The company has a market cap of $12.69 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business posted $2.15 EPS. CDW’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that CDW Corporation will post 10.01 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, May 22nd. CDW’s dividend payout ratio (DPR) is currently 30.66%.

Hedge Funds Weigh In On CDW

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in CDW in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management grew its stake in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Quent Capital LLC purchased a new position in CDW in the 3rd quarter valued at approximately $57,000. eCIO Inc. purchased a new position in CDW in the 4th quarter valued at approximately $61,000. Finally, Covestor Ltd grew its stake in CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 226 shares in 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.