CDW (NASDAQ:CDW) Reaches New 12-Month High – What’s Next?

CDW Corporation (NASDAQ:CDW)’s share price hit a new 52-week high on Thursday. The stock traded as high as $163.03 and last traded at $164.55, with a volume of 838,896 shares traded. The stock had previously closed at $158.28.

Analyst Ratings Changes

Several equities analysts have weighed in on CDW shares. Morgan Stanley lifted their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays reduced their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Citigroup raised their price objective on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $150.12.

CDW Stock Performance

The company has a market capitalization of $20.58 billion, a PE ratio of 19.79, a PEG ratio of 2.03 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The firm’s 50-day simple moving average is $143.86 and its 200-day simple moving average is $134.61.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. On average, research analysts predict that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW’s payout ratio is 30.29%.

Insider Buying and Selling

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its stake in shares of CDW by 48.1% during the second quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock worth $38,000 after buying an additional 87 shares during the period. V Square Quantitative Management LLC raised its position in shares of CDW by 2.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock worth $417,000 after acquiring an additional 89 shares in the last quarter. Root Financial Partners LLC lifted its stake in CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. CX Institutional boosted its holdings in CDW by 4.0% in the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock valued at $331,000 after purchasing an additional 99 shares in the last quarter. Finally, Studio Investment Management LLC boosted its holdings in CDW by 6.0% in the second quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

About CDW

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.