CDW (NASDAQ:CDW) Sets New 52-Week Low – What’s Next?

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CDW. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Price Performance

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

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in shares of CDW in the 4th quarter worth about $30,000. Allworth Financial LP boosted its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW during the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. boosted its stake in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares in the last quarter. 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.