CDW Co. (NASDAQ:CDW) Shares Purchased by Citizens & Northern Corp

Citizens & Northern Corp raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,580 shares of the information technology services provider’s stock after acquiring an additional 187 shares during the quarter. Citizens & Northern Corp’s holdings in CDW were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canoe Financial LP acquired a new position in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC increased its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Allworth Financial LP raised its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter valued at $43,000. Finally, Covestor Ltd boosted its stake in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.0 %

CDW stock opened at $189.39 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 5.40 and a beta of 1.01. The business has a fifty day simple moving average of $185.05 and a 200-day simple moving average of $200.45. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts expect that CDW Co. will post 9.35 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CDW has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley raised 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. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.67.

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.