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

CDW Co. (NASDAQ:CDW) reached a new 52-week low during trading on Thursday . The stock traded as low as $161.19 and last traded at $162.76, with a volume of 120726 shares. The stock had previously closed at $167.33.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays lifted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Trading Down 2.9 %

The company has a market capitalization of $21.53 billion, a P/E ratio of 20.44, a PEG ratio of 3.21 and a beta of 1.01. The business has a fifty day moving average of $183.42 and a 200-day moving average of $192.25. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.54%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. State Street Corp lifted its position in shares of CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock worth $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP grew its position in CDW by 29.2% in the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Finally, Invesco Ltd. grew its position in CDW by 27.6% in the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after purchasing an additional 524,559 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.