CDW (NASDAQ:CDW) Hits New 12-Month Low – Should You Sell?

CDW Co. (NASDAQ:CDW) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $169.33 and last traded at $169.33, with a volume of 392836 shares trading hands. The stock had previously closed at $174.04.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CDW. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Morgan Stanley increased their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Barclays dropped their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. 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, CDW presently has an average rating of “Moderate Buy” and an average target price of $241.75.

CDW Price Performance

The firm has a fifty day moving average price of $184.21 and a two-hundred day moving average price of $209.04. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $22.52 billion, a P/E ratio of 20.66, a P/E/G ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 earnings per share. On average, analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.48%. CDW’s dividend payout ratio is 30.56%.

Institutional Investors Weigh In On CDW

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in CDW in the 2nd quarter worth approximately $35,000. Canoe Financial LP purchased a new position in shares of CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC increased its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in CDW in the third quarter valued at about $43,000. Finally, Covestor Ltd lifted its holdings in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the period. 93.15% of the stock is currently owned by institutional investors.

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.