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

Rockefeller Capital Management L.P. lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 14.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of CDW during the second quarter worth about $35,000. ORG Partners LLC acquired a new stake in shares of CDW during the second quarter worth about $34,000. Canoe Financial LP purchased a new position in CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Down 0.8 %

Shares of CDW stock traded down $1.35 during trading hours on Wednesday, hitting $178.28. The company's stock had a trading volume of 826,433 shares, compared to its average volume of 910,967. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The firm has a fifty day moving average of $203.11 and a 200-day moving average of $216.22. The stock has a market cap of $23.76 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 debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the company earned $2.60 EPS. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW's dividend payout ratio is 30.56%.

Analyst Ratings Changes

A number of research firms have recently commented on CDW. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays dropped their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $244.63.

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.