CDW (NASDAQ:CDW) Reaches New 12-Month Low Following Analyst Downgrade

CDW Co. (NASDAQ:CDW - Get Free Report) reached a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $229.00 to $201.00. Barclays currently has an equal weight rating on the stock. CDW traded as low as $187.73 and last traded at $189.45, with a volume of 138286 shares trading hands. The stock had previously closed at $188.23.

A number of other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Monday. Finally, Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $246.71.

Hedge Funds Weigh In On CDW

Several large investors have recently made changes to their positions in CDW. Portside Wealth Group LLC raised its stake in CDW by 22.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 233 shares during the last quarter. Olympiad Research LP bought a new stake in shares of CDW in the third quarter valued at about $266,000. M&G PLC grew its position in CDW by 2.3% during the third quarter. M&G PLC now owns 32,457 shares of the information technology services provider's stock worth $7,335,000 after buying an additional 737 shares in the last quarter. Hixon Zuercher LLC increased its stake in CDW by 1.9% during the third quarter. Hixon Zuercher LLC now owns 6,236 shares of the information technology services provider's stock valued at $1,411,000 after acquiring an additional 116 shares during the period. Finally, Crescent Grove Advisors LLC raised its holdings in CDW by 0.9% in the 3rd quarter. Crescent Grove Advisors LLC now owns 138,948 shares of the information technology services provider's stock valued at $31,444,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

The company has a market cap of $25.18 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.96 and a beta of 1.03. The stock has a 50-day simple moving average of $220.12 and a 200 day simple moving average of $223.72. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $2.43 earnings per share. CDW's revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. This is a boost from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio (DPR) is 30.32%.

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.