Cabot Wealth Management Inc. Acquires 1,101 Shares of CDW Co. (NASDAQ:CDW)

Cabot Wealth Management Inc. grew its holdings in CDW Co. (NASDAQ:CDW) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,465 shares of the information technology services provider’s stock after acquiring an additional 1,101 shares during the quarter. CDW accounts for about 1.5% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 26th largest holding. Cabot Wealth Management Inc. owned about 0.05% of CDW worth $12,090,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CDW. Arcadia Investment Management Corp MI acquired a new position in shares of CDW in the fourth quarter valued at $174,000. Jacobson & Schmitt Advisors LLC lifted its holdings in CDW by 2.8% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after buying an additional 1,861 shares during the period. Global Retirement Partners LLC lifted its position in shares of CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock worth $92,000 after purchasing an additional 75 shares during the period. Venturi Wealth Management LLC boosted its position in CDW by 9.0% during the fourth quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock valued at $1,364,000 after acquiring an additional 649 shares during the last quarter. Finally, Citizens & Northern Corp increased its holdings in CDW by 2.9% in the fourth quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock worth $1,145,000 after purchasing an additional 187 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

CDW opened at $186.50 on Friday. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. 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 firm has a market cap of $24.85 billion, a P/E ratio of 23.40, a PEG ratio of 3.21 and a beta of 1.01. The company has a 50 day simple moving average of $186.14 and a two-hundred day simple moving average of $200.03.

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, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its board has initiated a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.