Lecap Asset Management Ltd. Sells 13,921 Shares of CDW Corporation (NASDAQ:CDW)

Lecap Asset Management Ltd. lessened its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 64.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,658 shares of the information technology services provider's stock after selling 13,921 shares during the quarter. Lecap Asset Management Ltd.'s holdings in CDW were worth $1,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its stake in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the last quarter. Jacobi Capital Management LLC increased its position in shares of CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock valued at $248,000 after acquiring an additional 61 shares in the last quarter. Signaturefd LLC raised its holdings in CDW by 2.7% in the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock worth $471,000 after acquiring an additional 72 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider's stock worth $92,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock traded down $0.55 during trading on Thursday, reaching $177.28. The stock had a trading volume of 932,824 shares, compared to its average volume of 1,239,221. The firm has a market cap of $23.35 billion, a PE ratio of 21.97, a PEG ratio of 3.03 and a beta of 0.95. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 2.42. The stock's 50 day moving average is $173.57 and its two-hundred day moving average is $175.44. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $241.26.

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 the consensus estimate of $1.96 by $0.19. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The company's quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.92 earnings per share. As a group, equities analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

CDW has been the subject of a number of research analyst reports. UBS Group reduced their target price on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays dropped their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Citigroup lifted their price target 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $208.71.

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction on 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 owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction 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 of the company's stock, valued at $26,293,382.02. This represents a 22.02% decrease in their position. The disclosure for this sale can be found here. Company 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.