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

Centric Wealth Management increased its position in CDW Co. (NASDAQ:CDW) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,838 shares of the information technology services provider’s stock after buying an additional 70 shares during the quarter. CDW comprises about 1.1% of Centric Wealth Management’s investment portfolio, making the stock its 22nd biggest position. Centric Wealth Management’s holdings in CDW were worth $4,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new stake in CDW during the 3rd quarter worth $416,111,000. Dimensional Fund Advisors LP lifted its position in CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after acquiring an additional 128,263 shares in the last quarter. Boston Partners lifted its position in CDW by 1.9% during the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock worth $206,519,000 after acquiring an additional 15,178 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CDW by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after acquiring an additional 7,764 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in CDW in the third quarter valued at approximately $158,300,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

CDW stock opened at $176.75 on Friday. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37. The firm’s 50-day moving average is $206.88 and its 200-day moving average is $217.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market cap of $23.55 billion, a P/E ratio of 21.61, a PEG ratio of 4.97 and a beta of 1.05.

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

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. 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. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.