CDW (NASDAQ:CDW) Hits New 12-Month Low – Time to Sell?

Shares of CDW Corporation (NASDAQ:CDW) hit a new 52-week low during trading on Thursday . The company traded as low as $135.92 and last traded at $136.5890, with a volume of 855766 shares traded. The stock had previously closed at $139.71.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CDW. Barclays lowered their price objective on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Evercore ISI reduced their target price on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Finally, UBS Group dropped their price target on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $190.67.

CDW Stock Down 2.2%

The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.95 and a beta of 1.03. The firm’s 50 day simple moving average is $154.45 and its 200-day simple moving average is $167.77.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a net margin of 4.76% and a return on equity of 51.89%. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. This is a boost from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio is presently 31.82%.

Hedge Funds Weigh In On CDW

Large investors have recently modified their holdings of the business. Danske Bank A S purchased a new stake in shares of CDW in the third quarter valued at approximately $13,347,000. Dark Forest Capital Management LP purchased a new position in CDW in the third quarter worth $313,000. Public Employees Retirement System of Ohio raised its position in CDW by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock worth $6,546,000 after acquiring an additional 255 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in CDW by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 150,209 shares of the information technology services provider’s stock valued at $23,924,000 after acquiring an additional 1,052 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of CDW by 7.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,044 shares of the information technology services provider’s stock worth $1,281,000 after purchasing an additional 556 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other 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.