CDW (NASDAQ:CDW) Stock Passes Below 200-Day Moving Average – Here’s Why

CDW Corporation (NASDAQ:CDW)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $162.46 and traded as low as $142.41. CDW shares last traded at $143.69, with a volume of 2,015,000 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDW shares. Morgan Stanley lowered their price target on shares of CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays lowered their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. Evercore ISI lowered their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, UBS Group dropped their target price on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.43.

CDW Trading Down 0.9%

The firm has a market capitalization of $18.71 billion, a PE ratio of 18.14, a P/E/G ratio of 2.02 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The firm has a 50 day simple moving average of $147.60 and a 200 day simple moving average of $162.46.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. Equities analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW’s dividend payout ratio is presently 31.82%.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the sale, the insider owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. The trade was a 20.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On CDW

Several hedge funds and other institutional investors have recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of CDW in the third quarter worth $13,347,000. Dark Forest Capital Management LP bought a new stake in shares of CDW during the 3rd quarter valued at about $313,000. Public Employees Retirement System of Ohio increased its position in shares of CDW by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock valued at $6,546,000 after purchasing an additional 255 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of CDW by 0.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 150,209 shares of the information technology services provider’s stock worth $23,924,000 after purchasing an additional 1,052 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of CDW by 7.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 8,044 shares of the information technology services provider’s stock worth $1,281,000 after buying an additional 556 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

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.