CDW Corporation (NASDAQ:CDW) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. trimmed its stake in shares of CDW Corporation (NASDAQ:CDW) by 64.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,658 shares of the information technology services provider’s stock after selling 13,921 shares during the period. Lecap Asset Management Ltd.’s holdings in CDW were worth $1,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after purchasing an additional 99,947 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock worth $614,220,000 after purchasing an additional 54,341 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 worth $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Invesco Ltd. raised its position in shares of CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after purchasing an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Down 1.1%

Shares of NASDAQ CDW opened at $177.83 on Thursday. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $241.26. The firm has a fifty day moving average of $173.57 and a 200-day moving average of $175.44. The stock has a market capitalization of $23.42 billion, a PE ratio of 22.04, a P/E/G ratio of 3.03 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.42.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the previous year, the company earned $1.92 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio is presently 30.98%.

Insider Activity

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider now owns 36,077 shares in the company, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Citigroup lifted their target price on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Barclays lowered their target price on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $208.71.

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.