Citizens & Northern Corp Lowers Stock Holdings in CDW Corporation $CDW

Citizens & Northern Corp lessened its holdings in shares of CDW Corporation (NASDAQ:CDW) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,702 shares of the information technology services provider’s stock after selling 79 shares during the quarter. Citizens & Northern Corp’s holdings in CDW were worth $1,197,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its holdings in CDW by 20.8% in the first quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider’s stock valued at $33,255,000 after acquiring an additional 35,737 shares in the last quarter. Unison Asset Management LLC lifted its position in shares of CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider’s stock worth $6,339,000 after purchasing an additional 3,657 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CDW by 1.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider’s stock worth $963,000 after purchasing an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in CDW by 8.7% in the first quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider’s stock valued at $3,204,000 after buying an additional 1,604 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in CDW during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays dropped their price objective on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of CDW in a research note on Wednesday, October 8th. UBS Group reduced their price target on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, Citigroup upped their price objective on shares of CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $201.71.

CDW Stock Performance

Shares of CDW stock opened at $156.53 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The stock has a 50 day simple moving average of $161.55 and a 200-day simple moving average of $168.38. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.01. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $222.92.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.CDW’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. On average, equities analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 25th. CDW’s dividend payout ratio (DPR) is currently 31.06%.

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.