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

Lecap Asset Management Ltd. purchased a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,579 shares of the information technology services provider's stock, valued at approximately $3,756,000. CDW comprises approximately 1.0% of Lecap Asset Management Ltd.'s holdings, making the stock its biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of CDW by 1.1% during the third 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CDW by 0.9% during 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 period. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW in the 3rd quarter worth $416,111,000. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the period. Finally, Barclays PLC increased its position 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 valued at $261,779,000 after acquiring an additional 3,424 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

CDW stock traded down $0.10 during trading on Tuesday, reaching $191.47. The company's stock had a trading volume of 359,736 shares, compared to its average volume of 1,426,448. The company's fifty day moving average is $184.08 and its 200-day moving average is $201.70. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The company has a market capitalization of $25.52 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts expect that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW declared that its board has authorized a stock repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in 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 plans are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.31%. CDW's payout ratio is 31.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Finally, Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $242.67.

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.