CDW (NASDAQ:CDW) Hits New 52-Week Low - Here's What Happened

CDW Co. (NASDAQ:CDW - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $151.27 and last traded at $151.53, with a volume of 367351 shares. The stock had previously closed at $164.47.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $235.50.

CDW Price Performance

The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The stock's 50-day moving average price is $177.78 and its 200 day moving average price is $188.51. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

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CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Trading of CDW

Large investors have recently made changes to their positions in the business. Centiva Capital LP bought a new stake in CDW during the 3rd quarter worth about $447,000. IHT Wealth Management LLC increased its holdings in shares of CDW by 16.5% in the third quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider's stock valued at $353,000 after purchasing an additional 231 shares in the last quarter. EP Wealth Advisors LLC raised its position in CDW by 5.1% in the 3rd quarter. EP Wealth Advisors LLC now owns 5,560 shares of the information technology services provider's stock worth $1,258,000 after purchasing an additional 271 shares during the last quarter. National Bank of Canada FI boosted its position in CDW by 65.3% in the 3rd quarter. National Bank of Canada FI now owns 81,116 shares of the information technology services provider's stock valued at $18,357,000 after buying an additional 32,056 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in shares of CDW by 9.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,747 shares of the information technology services provider's stock valued at $1,753,000 after buying an additional 680 shares during the period. 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.