Citizens & Northern Corp Sells 232 Shares of CDW Co. (NASDAQ:CDW)

Citizens & Northern Corp cut its stake in shares of CDW Co. (NASDAQ:CDW) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,887 shares of the information technology services provider’s stock after selling 232 shares during the quarter. Citizens & Northern Corp’s holdings in CDW were worth $1,338,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Commerce Bank increased its position in shares of CDW by 0.8% during the fourth quarter. Commerce Bank now owns 43,898 shares of the information technology services provider’s stock valued at $9,979,000 after acquiring an additional 333 shares in the last quarter. US Bancorp DE lifted its holdings in shares of CDW by 0.6% during the 4th quarter. US Bancorp DE now owns 47,493 shares of the information technology services provider’s stock valued at $10,796,000 after buying an additional 280 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of CDW by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,965 shares of the information technology services provider’s stock worth $1,356,000 after buying an additional 133 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of CDW by 110.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 4,710 shares of the information technology services provider’s stock worth $1,071,000 after acquiring an additional 2,477 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in CDW by 5.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,144 shares of the information technology services provider’s stock valued at $260,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays dropped their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus cut their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Citigroup decreased their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Price Performance

CDW traded down $4.39 on Thursday, hitting $231.26. 544,390 shares of the company’s stock traded hands, compared to its average volume of 728,843. The company’s 50 day simple moving average is $239.82 and its 200-day simple moving average is $231.40. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a one year low of $167.57 and a one year high of $263.37. The firm has a market cap of $31.08 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 3.39 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. As a group, research analysts anticipate that CDW Co. will post 9.68 EPS for the current year.

CDW declared that its Board of Directors has approved a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.07%. CDW’s dividend payout ratio is currently 30.96%.

CDW 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.