Westfield Capital Management Co. LP Sells 279,474 Shares of CDW Co. (NASDAQ:CDW)

Westfield Capital Management Co. LP decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 84.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,239 shares of the information technology services provider’s stock after selling 279,474 shares during the quarter. Westfield Capital Management Co. LP’s holdings in CDW were worth $11,369,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. ORG Partners LLC bought a new position in CDW during the second quarter valued at about $34,000. Quest Partners LLC acquired a new position in CDW during the second quarter valued at approximately $35,000. Canoe Financial LP bought a new position in shares of CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of CDW in the second quarter worth about $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CDW shares. 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 downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Up 0.4 %

Shares of CDW stock opened at $178.96 on Monday. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The stock has a market capitalization of $23.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05. The company has a 50-day simple moving average of $209.49 and a 200 day simple moving average of $218.42. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.60 EPS. Research analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.625 dividend. This is a positive change 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 presently 30.32%.

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.