Centric Wealth Management lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 80.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,677 shares of the information technology services provider's stock after selling 15,161 shares during the period. Centric Wealth Management's holdings in CDW were worth $640,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Allworth Financial LP boosted its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC lifted its position in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Fulcrum Equity Management increased its position in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 60 shares during the period. Finally, Jacobi Capital Management LLC raised its stake in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on CDW shares. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $235.50.
View Our Latest Report on CDW
CDW Price Performance
Shares of CDW stock traded down $7.08 on Friday, hitting $144.49. The company's stock had a trading volume of 4,384,228 shares, compared to its average volume of 1,119,728. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a fifty day moving average price of $178.71 and a 200-day moving average price of $189.30. CDW Co. has a 52-week low of $141.80 and a 52-week high of $257.33. The company has a market capitalization of $19.14 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.
CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW's dividend payout ratio (DPR) is 31.37%.
CDW announced that its board has approved a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
About CDW
(
Free Report)
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.
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