CDW (NASDAQ:CDW) Sets New 1-Year Low – Here’s Why

CDW Co. (NASDAQ:CDW)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $174.41 and last traded at $174.95, with a volume of 261391 shares changing hands. The stock had previously closed at $178.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDW. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Price Performance

The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business has a 50 day simple moving average of $211.13 and a 200-day simple moving average of $219.03. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts expect that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date is 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 dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Trading of CDW

Large investors have recently bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of CDW in the second quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in CDW during the 2nd quarter valued at $35,000. Canoe Financial LP purchased a new stake in shares of CDW during the third quarter worth $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the second quarter valued at $40,000. 93.15% of the stock is owned by hedge funds and other 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.