Centric Wealth Management Increases Holdings in CDW Co. (NASDAQ:CDW)

Centric Wealth Management boosted its position in CDW Co. (NASDAQ:CDW) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,542 shares of the information technology services provider’s stock after purchasing an additional 588 shares during the period. CDW comprises 1.3% of Centric Wealth Management’s investment portfolio, making the stock its 17th biggest position. Centric Wealth Management’s holdings in CDW were worth $4,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,511 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares during the last quarter. JGP Wealth Management LLC acquired a new position in CDW in the fourth quarter valued at $1,559,000. Finally, California Public Employees Retirement System lifted its position in CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after buying an additional 7,854 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 0.2 %

Shares of CDW stock traded down $0.53 during mid-day trading on Wednesday, reaching $220.15. 297,378 shares of the company were exchanged, compared to its average volume of 717,392. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The business’s 50 day simple moving average is $244.71 and its 200 day simple moving average is $229.74. The company has a market capitalization of $29.59 billion, a P/E ratio of 27.49, a P/E/G ratio of 3.16 and a beta of 1.09. CDW Co. has a fifty-two week low of $164.62 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $2.40 EPS. Research analysts predict that CDW Co. will post 9.89 earnings per share for the current year.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus lowered their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays dropped their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

About CDW

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.