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

CDW Corporation (NASDAQ:CDW)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $123.09 and last traded at $123.58, with a volume of 257459 shares. The stock had previously closed at $125.40.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley downgraded CDW from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $177.00 to $141.00 in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research report on Tuesday. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of CDW in a research note on Tuesday, January 20th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research report on Tuesday, November 25th. Finally, Citigroup dropped their price target on shares of CDW from $160.00 to $148.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $171.00.

CDW Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $16.45 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. The company’s 50 day moving average is $137.36 and its 200-day moving average is $152.82.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. As a group, equities analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio (DPR) is currently 31.82%.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $146.17, for a total value of $1,081,658.00. Following the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.

Institutional Trading of CDW

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its stake in CDW by 255.7% during the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after buying an additional 430,796 shares during the period. SG Americas Securities LLC raised its holdings in shares of CDW by 1,622.9% in the 2nd quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock valued at $36,118,000 after acquiring an additional 190,500 shares in the last quarter. Border to Coast Pensions Partnership Ltd bought a new stake in shares of CDW during the 3rd quarter valued at about $29,649,000. Danske Bank A S purchased a new position in shares of CDW during the third quarter worth about $13,347,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of CDW by 1,339.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the last quarter. Hedge funds and other 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.