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

Shares of CDW Corporation (NASDAQ:CDW) passed 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Barclays dropped their price objective on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Evercore restated an “outperform” rating and set a $180.00 target price on shares of CDW in a research note on Tuesday, January 20th. UBS Group decreased 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, Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.43.

CDW Stock Up 1.5%

The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.69 and a beta of 1.08. The firm’s 50 day simple moving average is $131.65 and its two-hundred day simple moving average is $146.87.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The company had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same period last year, the firm earned $2.48 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.63 per share. 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 (DPR) is 31.15%.

Insider Buying and Selling at CDW

In other news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction 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 sale, the insider directly owned 28,110 shares in the company, valued at approximately $4,108,838.70. This represents a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On CDW

Several institutional investors and hedge funds have recently bought and sold shares of CDW. Fenimore Asset Management Inc grew its stake in CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after buying an additional 9,485 shares in the last quarter. Marshall Wace LLP raised its position in shares of CDW by 255.7% in the 3rd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of CDW by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,345 shares of the information technology services provider’s stock worth $58,192,000 after acquiring an additional 1,793 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of CDW by 20.5% during the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock worth $38,812,000 after acquiring an additional 48,547 shares during the period. Finally, Local Pensions Partnership Investment Ltd boosted its position in shares of CDW by 7.8% during the 4th quarter. Local Pensions Partnership Investment Ltd now owns 249,176 shares of the information technology services provider’s stock worth $33,940,000 after acquiring an additional 18,000 shares in the last quarter. 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.