CDW Co. (NASDAQ:CDW) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 84.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,558 shares of the information technology services provider's stock after selling 24,600 shares during the quarter. Lazard Asset Management LLC's holdings in CDW were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in CDW by 10.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,624,344 shares of the information technology services provider's stock worth $282,701,000 after purchasing an additional 157,747 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of CDW in the fourth quarter worth about $3,874,000. Gotham Asset Management LLC raised its holdings in shares of CDW by 33.1% during the fourth quarter. Gotham Asset Management LLC now owns 54,284 shares of the information technology services provider's stock valued at $9,448,000 after acquiring an additional 13,501 shares during the period. Graham Capital Management L.P. acquired a new position in CDW in the 4th quarter worth approximately $214,000. Finally, FORA Capital LLC grew its position in CDW by 77.2% during the 4th quarter. FORA Capital LLC now owns 33,674 shares of the information technology services provider's stock worth $5,861,000 after purchasing an additional 14,671 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CDW shares. Citigroup increased their target price on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group reduced their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $216.38.

Insider Buying and Selling at CDW

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

CDW Trading Up 0.0%

Shares of NASDAQ CDW opened at $188.10 on Wednesday. The business has a 50 day simple moving average of $164.10 and a 200 day simple moving average of $176.56. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. On average, research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. CDW's payout ratio is currently 30.98%.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

About CDW

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.

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