CDW (NASDAQ:CDW) Stock Price Down 11.3% – Time to Sell?

CDW Corporation (NASDAQ:CDW)’s stock price traded down 11.3% on Friday. The stock traded as low as $148.64 and last traded at $146.5220. Approximately 419,918 shares were traded during trading, a decline of 77% from the average daily volume of 1,808,621 shares. The stock had previously closed at $165.20.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CDW shares. Morgan Stanley boosted their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup upped their price target on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Barclays lowered their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.12.

CDW Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.13 and a beta of 0.95. The stock’s fifty day moving average is $146.68 and its two-hundred day moving average is $133.02.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts predict that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.7%. CDW’s payout ratio is presently 30.29%.

Insider Activity

In related news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Trading of CDW

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in CDW in the second quarter valued at about $2,143,082,000. Pzena Investment Management LLC acquired a new position in CDW in the second quarter valued at $371,135,000. Jupiter Topco LLC acquired a new stake in CDW during the second quarter worth approximately $300,073,000. Alyeska Investment Group L.P. lifted its position in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after acquiring an additional 1,230,517 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of CDW during the 2nd quarter worth about $255,058,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.