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

Lazard Asset Management LLC lessened its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 84.4% in the 4th quarter, according to the company in 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 period. Lazard Asset Management LLC's holdings in CDW were worth $792,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. grew its position in CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of CDW during the fourth quarter worth $130,996,000. Graphene Investments SAS grew its holdings in shares of CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock valued at $3,028,000 after buying an additional 2,600 shares during the last quarter. Wellington Management Group LLP raised its stake in CDW by 29.2% in 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 acquiring an additional 574,444 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 acquiring an additional 54,341 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW traded down $1.22 during trading hours on Monday, hitting $182.16. The stock had a trading volume of 1,359,784 shares, compared to its average volume of 1,222,713. The firm has a 50-day moving average price of $165.06 and a 200 day moving average price of $175.98. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 22.86, 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 released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. CDW's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Citigroup upped their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Barclays reduced their target price 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. Finally, UBS Group lowered their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.38.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the business'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 transaction, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the firm'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 transaction of $7,423,162.14. Following the completion of the transaction, the insider now directly owns 144,931 shares in the company, valued at $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. Insiders own 0.84% of the company's stock.

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.