Venturi Wealth Management LLC Grows Stock Position in CDW Co. (NASDAQ:CDW)

Venturi Wealth Management LLC boosted its position in CDW Co. (NASDAQ:CDW) by 9.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,838 shares of the information technology services provider’s stock after buying an additional 649 shares during the quarter. Venturi Wealth Management LLC’s holdings in CDW were worth $1,364,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Citizens & Northern Corp raised its holdings in shares of CDW by 2.9% in the fourth quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock valued at $1,145,000 after acquiring an additional 187 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of CDW by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 42,896 shares of the information technology services provider’s stock valued at $7,466,000 after purchasing an additional 1,222 shares during the last quarter. Allworth Financial LP boosted its holdings in 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in CDW in the 4th quarter worth approximately $3,150,000. Finally, Congress Asset Management Co. lifted its stake in shares of CDW by 8.4% during the fourth quarter. Congress Asset Management Co. now owns 71,065 shares of the information technology services provider’s stock worth $12,368,000 after buying an additional 5,507 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDW. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. UBS Group decreased their price target 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. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Up 1.6 %

Shares of NASDAQ CDW opened at $192.46 on Wednesday. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. 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 stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The firm has a 50-day moving average price of $185.32 and a 200 day moving average price of $200.32.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. Equities research analysts anticipate that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

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

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.