Centric Wealth Management Has $640,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Centric Wealth Management decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 80.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,677 shares of the information technology services provider’s stock after selling 15,161 shares during the period. Centric Wealth Management’s holdings in CDW were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CDW. Erste Asset Management GmbH bought a new stake in CDW in the third quarter valued at $8,198,000. Centiva Capital LP bought a new stake in CDW in the 3rd quarter valued at about $447,000. Holocene Advisors LP acquired a new position in CDW during the 3rd quarter worth approximately $172,217,000. Hilltop Holdings Inc. boosted its holdings in CDW by 34.9% in the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock worth $388,000 after acquiring an additional 443 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $160.26 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a fifty day moving average price of $181.83 and a 200-day moving average price of $190.93. CDW Co. has a 1 year low of $158.76 and a 1 year high of $263.37. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, equities research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.56%. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its board has approved a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

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.