CDW (NASDAQ:CDW) Hits New 12-Month Low - Here's Why

Shares of CDW Co. (NASDAQ:CDW - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $174.41 and last traded at $174.95, with a volume of 261391 shares. The stock had previously closed at $178.07.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDW. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays decreased their target price 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. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and decreased their target price for the stock 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. They set a "buy" rating and a $230.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $244.63.

CDW Stock Down 2.3 %

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 business has a fifty day simple moving average of $211.93 and a two-hundred day simple moving average of $219.33. The company has a market capitalization of $23.19 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. Equities analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, November 25th. CDW's payout ratio is presently 30.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ORG Partners LLC bought a new position in CDW in the 2nd quarter worth approximately $34,000. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at $35,000. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter valued at $37,000. Fortitude Family Office LLC raised its position in shares of CDW by 350.0% during the 3rd 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. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the 2nd quarter valued at $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

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.