CDW (NASDAQ:CDW) Sets New 52-Week Low – Time to Sell?

CDW Co. (NASDAQ:CDW)’s stock price hit a new 52-week low on Thursday . The company traded as low as $169.33 and last traded at $169.33, with a volume of 392836 shares. The stock had previously closed at $174.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CDW shares. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley boosted their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.75.

CDW Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a fifty day moving average price of $182.37 and a 200 day moving average price of $208.41. The stock has a market cap of $23.22 billion, a PE ratio of 21.30, a P/E/G ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. Analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.43%. CDW’s dividend payout ratio is 30.56%.

Institutional Trading of CDW

Large investors have recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new position in CDW during the third quarter valued at $1,629,000. Franklin Resources Inc. increased its holdings in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW during the 3rd quarter valued at about $12,761,000. Thrivent Financial for Lutherans boosted its holdings in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after acquiring an additional 68,023 shares during the last quarter. Finally, Fortem Financial Group LLC bought a new stake in shares of CDW in the third quarter worth approximately $1,061,000. 93.15% of the stock is owned by institutional investors.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.