Lecap Asset Management Ltd. Invests $3.76 Million in CDW Co. (NASDAQ:CDW)

Lecap Asset Management Ltd. bought a new stake in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,579 shares of the information technology services provider’s stock, valued at approximately $3,756,000. CDW comprises 1.0% of Lecap Asset Management Ltd.’s portfolio, making the stock its largest position.

Several other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC raised its position in CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW in the third quarter valued at about $416,111,000. Janus Henderson Group PLC lifted its position in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC lifted its holdings in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CDW. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

Shares of CDW stock opened at $199.86 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm has a market cap of $26.63 billion, a P/E ratio of 24.43, a P/E/G ratio of 5.39 and a beta of 1.01. The business’s 50 day moving average price is $183.54 and its 200-day moving average price is $202.63.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.33% and a return on equity of 58.31%. On average, equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW declared that its board has authorized 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.25%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

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.