CDW (NASDAQ:CDW) Hits New 52-Week Low – What’s Next?

CDW Co. (NASDAQ:CDW)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $169.33 and last traded at $169.33, with a volume of 392836 shares changing hands. The stock had previously closed at $174.04.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CDW. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley lifted their price target on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded 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 note on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.75.

CDW Price Performance

The firm has a market capitalization of $22.52 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The business’s 50 day moving average is $184.21 and its two-hundred day moving average is $209.04. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 earnings per share. Equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC boosted its holdings in CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after acquiring an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after buying an additional 128,263 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Company Profile

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.