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

Shares of CDW Corporation (NASDAQ:CDW) hit a new 52-week low during trading on Wednesday . The company traded as low as $97.12 and last traded at $99.30, with a volume of 4054270 shares traded. The stock had previously closed at $102.54.

Analyst Ratings Changes

A number of brokerages have recently commented on CDW. Barclays cut their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $150.00 target price on shares of CDW in a research note on Wednesday, May 6th. Citigroup reduced their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Morgan Stanley increased their target price on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, UBS Group reduced their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.14.

CDW Price Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $122.85 and its two-hundred day simple moving average is $132.32. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.36 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.28. CDW had a net margin of 4.70% and a return on equity of 49.67%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the company earned $2.15 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. On average, analysts forecast that CDW Corporation will post 10.01 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, May 22nd. CDW’s dividend payout ratio is currently 30.66%.

Institutional Investors Weigh In On CDW

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in shares of CDW in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management grew its stake in shares of CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Quent Capital LLC acquired a new stake in shares of CDW during the 3rd quarter worth about $57,000. eCIO Inc. acquired a new stake in shares of CDW during the 4th quarter worth about $61,000. Finally, Covestor Ltd increased its position in shares of CDW by 87.9% during 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 in the last quarter. 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.