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

Centric Wealth Management increased its position in CDW Co. (NASDAQ:CDW) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,542 shares of the information technology services provider’s stock after acquiring an additional 588 shares during the quarter. CDW accounts for about 1.3% of Centric Wealth Management’s investment portfolio, making the stock its 17th biggest holding. Centric Wealth Management’s holdings in CDW were worth $4,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Scotia Capital Inc. grew its stake in shares of CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 50 shares during the period. Diversified Trust Co raised its position in shares of CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after purchasing an additional 51 shares during the period. Phoenix Holdings Ltd. lifted its stake in shares of CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 52 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in CDW by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock worth $279,000 after buying an additional 53 shares during the period. Finally, Contravisory Investment Management Inc. increased its stake in CDW by 2.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 2,731 shares of the information technology services provider’s stock worth $621,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Price Performance

CDW stock traded down $0.53 during mid-day trading on Wednesday, reaching $220.15. 297,378 shares of the company’s stock traded hands, compared to its average volume of 717,392. CDW Co. has a 12-month low of $164.62 and a 12-month high of $263.37. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 3.16 and a beta of 1.09. The stock has a 50 day moving average of $244.71 and a two-hundred day moving average of $229.74. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

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

CDW Dividend Announcement

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

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

CDW Company 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.