CDW Co. (NASDAQ:CDW) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its stake in CDW Co. (NASDAQ:CDW - Free Report) by 56.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,343 shares of the information technology services provider's stock after selling 19,516 shares during the period. Rockefeller Capital Management L.P.'s holdings in CDW were worth $2,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of CDW in the 4th quarter worth approximately $144,826,000. Madison Investment Advisors LLC purchased a new position in shares of CDW in the fourth quarter valued at $130,996,000. Proficio Capital Partners LLC raised its stake in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after buying an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CDW shares. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Citigroup decreased their target price on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $217.38.

CDW Stock Performance

NASDAQ:CDW traded up $3.68 during trading hours on Thursday, reaching $158.54. 550,212 shares of the stock were exchanged, compared to its average volume of 1,173,725. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $20.89 billion, a P/E ratio of 19.91, a P/E/G ratio of 3.21 and a beta of 0.97. The firm has a 50 day simple moving average of $165.45 and a 200-day simple moving average of $182.28.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

CDW Company 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.