CDW (NASDAQ:CDW) Stock Passes Below 200 Day Moving Average – What’s Next?

CDW Corporation (NASDAQ:CDW) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $146.87 and traded as low as $122.78. CDW shares last traded at $123.39, with a volume of 1,568,085 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDW. Barclays reduced their target price on CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research note on Tuesday, January 27th. Citigroup boosted their target price on CDW from $148.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. UBS Group reduced their price target on shares of CDW from $190.00 to $162.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Finally, Morgan Stanley lifted their price target on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.43.

CDW Trading Up 1.5%

The business’s fifty day moving average is $131.65 and its 200-day moving average is $146.87. The firm has a market cap of $15.92 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.69 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.

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

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, February 25th. CDW’s dividend payout ratio is presently 31.15%.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction dated 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 transaction, the insider directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CDW

Hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in shares of CDW in the third quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in CDW during the 3rd quarter valued at approximately $57,000. eCIO Inc. bought a new position in CDW during the 4th quarter worth approximately $61,000. Covestor Ltd lifted its position in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after purchasing an additional 226 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of CDW in the 4th quarter valued at $110,000. 93.15% of the stock is currently owned by 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.