Westfield Capital Management Co. LP Acquires 48,221 Shares of CDW Co. (NASDAQ:CDW)

Westfield Capital Management Co. LP raised its holdings in CDW Co. (NASDAQ:CDW) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,205 shares of the information technology services provider’s stock after buying an additional 48,221 shares during the period. Westfield Capital Management Co. LP owned about 0.28% of CDW worth $85,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDW. VisionPoint Advisory Group LLC acquired a new position in shares of CDW in the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new position in shares of CDW in the third quarter valued at approximately $35,000. ORG Partners LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. acquired a new position in shares of CDW in the fourth quarter valued at approximately $36,000. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the topic of a number of analyst reports. Barclays reduced their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus reduced their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI increased their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Citigroup reduced their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Price Performance

Shares of CDW stock traded down $0.51 during trading hours on Friday, reaching $231.06. The company’s stock had a trading volume of 556,703 shares, compared to its average volume of 878,937. The firm’s 50 day simple moving average is $239.23 and its 200-day simple moving average is $231.71. The company has a market capitalization of $31.05 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.40 and a beta of 1.09. CDW Co. has a fifty-two week low of $167.73 and a fifty-two week high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Sell-side analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 23rd. CDW’s payout ratio is 30.96%.

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.