CDW (NASDAQ:CDW) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

CDW Corporation (NASDAQ:CDW) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $161.01 and traded as low as $137.78. CDW shares last traded at $138.77, with a volume of 620,883 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. 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 dropped their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. UBS Group reduced their target price on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Evercore ISI lowered their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned 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 a consensus price target of $186.43.

CDW Stock Up 0.5%

The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.94 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The firm’s 50 day simple moving average is $146.49 and its 200-day simple moving average is $161.01.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a net margin of 4.76% and a return on equity of 51.89%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. This is a boost from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio is presently 31.82%.

Insider Transactions at CDW

In other news, insider Sona Chawla sold 7,400 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This represents a 20.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of CDW by 31.1% during the 1st quarter. BNP Paribas Financial Markets now owns 411,629 shares of the information technology services provider’s stock worth $65,968,000 after acquiring an additional 97,532 shares in the last quarter. DNB Asset Management AS increased its stake 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 purchasing an additional 22,566 shares in the last quarter. Marshall Wace LLP raised 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 purchasing an additional 119,719 shares during the last quarter. Royal Bank of Canada boosted its position in CDW by 24.9% during the first quarter. Royal Bank of Canada now owns 587,479 shares of the information technology services provider’s stock worth $94,148,000 after purchasing an additional 117,161 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in CDW by 1,622.9% during the second quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock worth $36,118,000 after purchasing an additional 190,500 shares in the last quarter. Institutional investors and hedge funds 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.