CDW (NASDAQ:CDW) Reaches New 52-Week Low After Analyst Downgrade

CDW Corporation (NASDAQ:CDW)’s share price reached a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $160.00 to $148.00. Citigroup currently has a neutral rating on the stock. CDW traded as low as $126.00 and last traded at $127.2840, with a volume of 179062 shares changing hands. The stock had previously closed at $131.75.

CDW has been the subject of several other reports. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $177.00 to $141.00 in a research report on Tuesday. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of CDW in a research note on Tuesday. Finally, UBS Group reduced their price target on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One 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, CDW has a consensus rating of “Moderate Buy” and an average target price of $171.00.

Insider Transactions at CDW

In other news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction dated 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 transaction, the insider directly 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 filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of CDW

A number of large investors have recently bought and sold shares of the business. Fenimore Asset Management Inc increased its position in CDW by 0.4% during the 3rd quarter. Fenimore Asset Management Inc now owns 1,141,082 shares of the information technology services provider’s stock worth $181,752,000 after purchasing an additional 4,659 shares during the period. Marshall Wace LLP grew its holdings 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 worth $95,448,000 after acquiring an additional 430,796 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in CDW by 0.5% in the third 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 in the last quarter. California State Teachers Retirement System lifted its holdings in CDW by 0.6% in the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after acquiring an additional 1,242 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of CDW by 1,622.9% during the 2nd quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock worth $36,118,000 after purchasing an additional 190,500 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The stock’s 50 day moving average price is $140.20 and its two-hundred day moving average price is $155.81. The firm has a market capitalization of $16.39 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.72 and a beta of 1.08.

CDW (NASDAQ:CDW) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. On average, analysts forecast 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. Shareholders of record on Tuesday, November 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.0%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s dividend payout ratio is currently 31.82%.

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.