CDW (NASDAQ:CDW) Share Price Passes Below 200-Day Moving Average – Time to Sell?
by Scott Moore · The Cerbat GemCDW Corporation (NASDAQ:CDW – Get Free Report)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $161.01 and traded as low as $137.78. CDW shares last traded at $138.77, with a volume of 620,883 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on CDW shares. Barclays cut their target price on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 target price for the company in a research note on Tuesday, November 25th. Evercore ISI dropped their price target on CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Morgan Stanley reduced their price objective on CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.43.
Read Our Latest Stock Report on CDW
CDW Price Performance
The company has a market cap of $18.19 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.94 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 company has a fifty day moving average price of $146.23 and a two-hundred day moving average price of $160.75.
CDW (NASDAQ:CDW – Get Free Report) last issued its earnings results 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. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. As a group, equities research analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.
CDW Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. CDW’s payout ratio is presently 31.82%.
Insider Buying and Selling
In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the sale, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by corporate insiders.
Institutional Trading of CDW
Institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new position in shares of CDW in the third quarter valued at about $26,000. Bayforest Capital Ltd bought a new position in shares of CDW in the first quarter worth about $31,000. Quent Capital LLC acquired a new position in shares of CDW during the third quarter worth approximately $57,000. Covestor Ltd grew its stake in shares of CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares during the last quarter. Finally, eCIO Inc. acquired a new stake in shares of CDW in the first quarter valued at approximately $93,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
CDW Company Profile
CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.
CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.