CDW Co. (NASDAQ:CDW - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $167.98 and last traded at $168.99, with a volume of 464866 shares trading hands. The stock had previously closed at $172.59.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CDW. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays increased their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $242.67.
Read Our Latest Report on CDW
CDW Stock Up 0.7 %
The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a 50 day simple moving average of $186.22 and a 200-day simple moving average of $197.19. The stock has a market cap of $22.31 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.
CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.48%. CDW's dividend payout ratio (DPR) is currently 31.37%.
CDW declared that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.
Hedge Funds Weigh In On CDW
A number of large investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in CDW during the 4th quarter worth $30,000. Allworth Financial LP increased its stake in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management bought a new position in CDW during the 4th quarter worth $32,000. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Optiver Holding B.V. increased its stake in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the period. Institutional investors own 93.15% of the company's stock.
About CDW
(
Get Free Report)
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.
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