CDW (NASDAQ:CDW) Hits New 1-Year Low on Analyst Downgrade

CDW Co. (NASDAQ:CDW)’s share price hit a new 52-week low during mid-day 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 traded. The stock had previously closed at $188.23.

Several other research firms have also recently commented on CDW. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Hold” and a consensus price target of $246.71.

Hedge Funds Weigh In On CDW

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares during the period. Mawer Investment Management Ltd. boosted its stake in CDW by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after acquiring an additional 27,753 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CDW by 3.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock valued at $366,168,000 after purchasing an additional 51,450 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after buying an additional 611,054 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

The company has a market capitalization of $25.27 billion, a P/E ratio of 23.01, a PEG ratio of 2.96 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The business has a 50 day simple moving average of $220.86 and a 200-day simple moving average of $223.97.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the company earned $2.43 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts predict that CDW Co. will post 9.38 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. 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.