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

CDW Co. (NASDAQ:CDW - Get Free Report) hit a new 52-week low during 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

A number of brokerages have weighed in on CDW. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays reduced their price target 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CDW presently has an average rating of "Moderate Buy" and an average price target of $241.75.

CDW Stock Performance

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 moving average price is $183.23 and its 200 day moving average price is $208.77. The company has a market capitalization of $22.66 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) 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 analysts' consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. CDW's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts expect that CDW Co. will post 8.99 EPS for the current 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 given a dividend of $0.625 per share. This is a boost from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. CDW's payout ratio is presently 30.56%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in shares of CDW during the 2nd quarter worth $148,000. Commonwealth Equity Services LLC boosted its stake in CDW by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider's stock valued at $1,817,000 after acquiring an additional 377 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of CDW during the 2nd quarter valued at approximately $4,964,000. Farther Finance Advisors LLC increased its stake in shares of CDW by 405.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,563 shares of the information technology services provider's stock worth $343,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of CDW by 60.5% in the 2nd quarter. Fiera Capital Corp now owns 20,208 shares of the information technology services provider's stock worth $4,523,000 after purchasing an additional 7,619 shares during the period. 93.15% of the stock is 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.