CDW (NASDAQ:CDW) Sets New 12-Month Low – What’s Next?

CDW Co. (NASDAQ:CDW) hit a new 52-week low on Wednesday . The stock traded as low as $186.54 and last traded at $187.35, with a volume of 1124991 shares. The stock had previously closed at $191.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays decreased their target price on 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, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday. They set a “buy” rating and a $230.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Stock Performance

The company has a market cap of $24.09 billion, a PE ratio of 22.10, a P/E/G ratio of 5.19 and a beta of 1.05. 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 stock’s 50-day simple moving average is $214.18 and its 200 day simple moving average is $220.53.

CDW (NASDAQ:CDW) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 earnings per share. As a group, equities analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.38%. CDW’s dividend payout ratio is 30.32%.

Institutional Investors Weigh In On CDW

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in CDW by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 61,206 shares of the information technology services provider’s stock worth $15,695,000 after acquiring an additional 1,149 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in CDW by 6.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 377 shares during the last quarter. M&G Plc purchased a new position in CDW during the first quarter worth $8,528,000. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of CDW by 13.6% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,525 shares of the information technology services provider’s stock worth $390,000 after acquiring an additional 183 shares during the last quarter. Finally, Clearstead Trust LLC lifted its position in shares of CDW by 132.5% in the first quarter. Clearstead Trust LLC now owns 286 shares of the information technology services provider’s stock valued at $73,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

About CDW

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.