CDW Co. (NASDAQ:CDW) Shares Purchased by Centric Wealth Management

Centric Wealth Management grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 18,838 shares of the information technology services provider’s stock after buying an additional 70 shares during the period. CDW makes up about 1.1% of Centric Wealth Management’s portfolio, making the stock its 22nd largest holding. Centric Wealth Management’s holdings in CDW were worth $4,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new stake in CDW during the second quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW during the third quarter valued at about $12,761,000. Raymond James & Associates grew its holdings in CDW by 16.6% during the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after acquiring an additional 19,867 shares during the period. Thrivent Financial for Lutherans raised its position in CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after acquiring an additional 68,023 shares in the last quarter. Finally, Boston Partners boosted its position in shares of CDW by 1.9% during the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after purchasing an additional 15,178 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW opened at $176.75 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 4.97 and a beta of 1.05. The business’s 50-day moving average is $206.88 and its 200-day moving average is $217.52. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s payout ratio is presently 30.56%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $244.63.

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.