CDW (NASDAQ:CDW) Reaches New 1-Year Low Following Analyst Downgrade

CDW Co. (NASDAQ:CDW) hit a new 52-week low 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 weighed in on CDW. Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of “Hold” and a consensus price target of $246.71.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDW. Tompkins Financial Corp bought a new stake in shares of CDW in the third quarter valued at about $113,000. Assetmark Inc. raised its stake in CDW by 37.3% in the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock worth $221,000 after buying an additional 265 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in CDW by 22.9% during the third quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider’s stock worth $283,000 after buying an additional 233 shares during the period. Olympiad Research LP bought a new stake in CDW during the 3rd quarter valued at $266,000. Finally, M&G PLC increased its holdings in shares of CDW by 2.3% in the 3rd quarter. M&G PLC now owns 32,457 shares of the information technology services provider’s stock valued at $7,335,000 after acquiring an additional 737 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 0.1 %

The company has a current ratio of 1.40, a quick ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $25.16 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. The company has a 50-day moving average price of $220.12 and a 200 day moving average price of $223.72.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts forecast that CDW Co. will post 9.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. 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%. CDW’s dividend payout ratio is presently 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.