Rockefeller Capital Management L.P. Trims Stake in CDW Co. (NASDAQ:CDW)

Rockefeller Capital Management L.P. decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,859 shares of the information technology services provider’s stock after selling 5,967 shares during the period. Rockefeller Capital Management L.P.’s holdings in CDW were worth $7,889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. RDA Financial Network lifted its holdings in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after acquiring an additional 46 shares during the last quarter. PDS Planning Inc raised its holdings in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after buying an additional 54 shares during the last quarter. Profund Advisors LLC boosted its stake in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after buying an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its position in CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDW has been the subject of a number of research reports. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.63.

CDW Trading Down 0.5 %

NASDAQ:CDW opened at $179.63 on Wednesday. The company has a 50-day moving average price of $203.11 and a 200-day moving average price of $216.22. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 5.08 and a beta of 1.02. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the business earned $2.60 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.39%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.